Stock Market-Linked ISA

lui9795
lui9795 Forumite Posts: 6 Forumite
Hi All,

I'm after some advice re. my Legal & General Stock Market-linked ISA.

I'm 22 now and, thanks to great advice from my parents (save, save, save), I invested £5,000 in a stock market-linked ISA in 2011. It was over a six year term, so is due to expire mid-2017.

I usually obtain a value yearly and today I was informed that it is now worth £7,000. I obviously invested at a good time and was wondering whether people think I should take it while I can?

There is no withdrawal penalty.

Thoughts please! Any are appreciated.

Jack.
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Comments

  • kidmugsy
    kidmugsy Forumite Posts: 12,709
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    lui9795 wrote: »
    I ... was wondering whether people think I should take it while I can?

    What would you do with it?
    Free the dunston one next time too.
  • lui9795
    lui9795 Forumite Posts: 6 Forumite
    Sorry I should add that my consideration behind withdrawing early is not because I need it or want it to spend on something.

    I would likely reinvest in something else.
  • ViolaLass
    ViolaLass Forumite Posts: 5,764 Forumite
    Would you choose the thing you have now again?
  • lui9795
    lui9795 Forumite Posts: 6 Forumite
    Probably not given that in my novice opinion I've made the most I will make.

    In 2011 things were bad and now they've peaked pretty well.

    I just wanted people's opinions.
  • ViolaLass
    ViolaLass Forumite Posts: 5,764 Forumite
    If you wouldn't choose it now, that's a good reason to sell. Can't comment further without knowing what you invested in.
  • lui9795
    lui9795 Forumite Posts: 6 Forumite
    Thanks for your advice.

    The ISA is linked to FTSE 100, DJ Euro Stocks and S+P 500.

    Guaranteed minimum return was 11.8%.

    Invested £5343. Today worth £7118.
  • masonic
    masonic Forumite Posts: 21,458
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    Perhaps transfer it to a S&S ISA. Then you could choose exactly how much risk you would like to take going forward. There's no way of knowing whether markets will continue to rise, stagnate, or fall in the near future, but in the distant future it is extremely likely they will be higher than they are today.
  • kidmugsy
    kidmugsy Forumite Posts: 12,709
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    If you think that a market crash is in the offing, you could transfer the loot to a Cash ISA and await events. If there is a crash, you could move it back into an S&S ISA and reinvest at the new bargain level. Your shout.

    Is there any likelihood of your needing the money in the next few years: less than five, say? Are there any valuable guarantees in your current ISA that you'd like to keep?
    Free the dunston one next time too.
  • dunstonh
    dunstonh Forumite Posts: 114,291
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    A 6 year stockmarket linked ISA would be a structured product (SCARP). These typically suffer early withdrawal penalties and you can lose the terms that you agreed to take them on.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • lui9795
    lui9795 Forumite Posts: 6 Forumite
    dunstonh wrote: »
    A 6 year stockmarket linked ISA would be a structured product (SCARP). These typically suffer early withdrawal penalties and you can lose the terms that you agreed to take them on.

    There are no withdrawal fees as confirmed today.
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