ISA values

MikeUtd

I have just received 2 isa statements that have shown a significant drop in value from January. Given that I have about a year before retirement and possible redundancy looming, should I consider withdrawing the money to protect my investments and place in a building society account?
Thanks 

cattie

You don't say what funds your isa's are invested in & this could make a difference to the answers you get.

Remember, most funds dropped around the same time due to the virus, but many have recovered to near their value before the dip. The only thing I would say is check the dates that the statements are showing & then if possible check the values online. The reason I say this is when I invested through an IFA, the statement value often had a different value to the up to date one that I could see online, as the statement covered a past period.

eskbanker

MikeUtd said:

I have just received 2 isa statements that have shown a significant drop in value from January. Given that I have about a year before retirement and possible redundancy looming, should I consider withdrawing the money to protect my investments and place in a building society account?
Thanks 

What role do these ISAs play in your retirement planning?  If they're a major component and you'll need access to most or all of the funds as soon as you retire then this would obviously be more of an issue than if they were a less significant top-up that you could get by without for a few years, which in turn will affect what's best to do now....

MikeUtd

The ISA type is a Family Balanced Intl-B and the statement covers from 1st February to 30th April. Value has dropped by £2,400 over that period and this includes the £60 per month going in. It’s designed to make life easier for retirement which might come a year earlier than planned 

Albermarle

Value has dropped by £2,400 over that period

What % of the total is that ? If it is 10% or even 15% this would be not unexpected . 

Since April 30th markets have had a bounce back so the drop will probably be a lot less if measured today .

Also how much has it gone up in the last 5 years ?

Overall you should not be having risk based investments , if you do not understand that investments can go down as well as up .

MikeUtd

It’s dropped by about 12% so maybe I shouldn’t be over concerned. It’s just the worry about further losses at this time, as I’m on redundancy notice.
Naturally aware that the value can rise and fall 

Albermarle

MikeUtd said:

It’s dropped by about 12% so maybe I shouldn’t be over concerned. It’s just the worry about further losses at this time, as I’m on redundancy notice.
Naturally aware that the value can rise and fall 

Since April 30th markets have bounced back around 12% so probably you should be somewhere back close to where you started, depending on the exact make up of your investment. Of course that is not to say they will not go down again, or further up, in future.

eskbanker

Albermarle said:

MikeUtd said:

It’s dropped by about 12% so maybe I shouldn’t be over concerned. It’s just the worry about further losses at this time, as I’m on redundancy notice.
Naturally aware that the value can rise and fall 

Since April 30th markets have bounced back around 12% so probably you should be somewhere back close to where you started, depending on the exact make up of your investment.

MikeUtd said:

The ISA type is a Family Balanced Intl-B 

That fund had some dips during May, but is now about 5% up from a mini peak on 30 April - it still needs another 10% growth to get back to where it was on 1 February....