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Wealthify - maximum gains and losses you've noticed

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
23 replies 4.1K views
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  • OceanSoundOceanSound Forumite
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    Alexland said:
    There was a tiny profit but I didn't think it was worth mentioning. Similarly our youngest son just made an 83p profit on his £30 Onefamily Junior ISA which we only opened for the £80 Topcashback which has now paid so the account is transferring to Vanguard.
    Update on this. I closed plan back in February. Balance of Plan was: £488.15
    It comprised of:  deposit =  £300.00 
                              monthly payments = £20.00 x 6 = £120.00
                              manual payment = £20.00   (somehow in February 2020 I've done a manual payment. No idea why I did this!)
                             Bonus = £40.00
                             Plan growth = £8.15
                              Total           = £488.15
    Wish I'd kept it open now (considering the dire interest rates offered on savings accounts)
  • dunstonhdunstonh Forumite
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    Alexland said:
    There was a tiny profit but I didn't think it was worth mentioning. Similarly our youngest son just made an 83p profit on his £30 Onefamily Junior ISA which we only opened for the £80 Topcashback which has now paid so the account is transferring to Vanguard.
    Update on this. I closed plan back in February. Balance of Plan was: £488.15
    It comprised of:  deposit =  £300.00 
                              monthly payments = £20.00 x 6 = £120.00
                              manual payment = £20.00   (somehow in February 2020 I've done a manual payment. No idea why I did this!)
                             Bonus = £40.00
                             Plan growth = £8.15
                              Total           = £488.15
    Wish I'd kept it open now (considering the dire interest rates offered on savings accounts)

    Markets fell around 35% between 24th Feb and 24th March.  It then bounced back quickly over the months that followed.
    So, your Feb payment may well have gone in after some of the drop and benefitted from the recovery.   The earlier money would have suffered the whole drop. Although it would be back in profit again by now.
    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.
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  • edited 15 September 2020 at 8:55AM
    OceanSoundOceanSound Forumite
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    Fifth Anniversary 500 Posts Name Dropper
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    edited 15 September 2020 at 8:55AM
    dunstonh said:
    Alexland said:
    There was a tiny profit but I didn't think it was worth mentioning. Similarly our youngest son just made an 83p profit on his £30 Onefamily Junior ISA which we only opened for the £80 Topcashback which has now paid so the account is transferring to Vanguard.
    Update on this. I closed plan back in February. Balance of Plan was: £488.15
    It comprised of:  deposit =  £300.00 
                              monthly payments = £20.00 x 6 = £120.00
                              manual payment = £20.00   (somehow in February 2020 I've done a manual payment. No idea why I did this!)
                             Bonus = £40.00
                             Plan growth = £8.15
                              Total           = £488.15
    Wish I'd kept it open now (considering the dire interest rates offered on savings accounts)

    Markets fell around 35% between 24th Feb and 24th March.  It then bounced back quickly over the months that followed.
    So, your Feb payment may well have gone in after some of the drop and benefitted from the recovery.   The earlier money would have suffered the whole drop. Although it would be back in profit again by now.
    Looked at the statement for February 2020. Payment to 'winterflood sec' (which is what shows up on statement for DD's to wealthify) on 10 Feb 2020 for £20.00. Then I've made a manual payment on 14 Feb 2020 for £20.00. I may have made manual payment because somehow I was concerned that the last DD hadn't gone through, which of course would have affected the bonus payment (as it needs 6 monthly payments to quality). Or I may have simply been curious how to make manual payments into the plan. I think it was the latter. Not 100% sure though.
    edit: only 5 payments were required to qualify for offer, so I probably made manual payment to 'test' how to make additional payments (I remember, was at one point considering keeping the plan and adding about £1000-2000), how long it takes to go through and be added to the plan etc. 
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