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Where to put my money !
Louisarose
Posts: 25 Forumite
Hi all,
I currently have around 10k that is in an underperforming ISA with an investment company. This is the remaining balance of an inheritance that they looked after for me. I would now like to withdraw this remaining 10k but don’t know what to do with it ! I would like to be able to access the money but happy to give notice for that. Just looking for some guidance as I am fairly clueless 🥴
Many thanks 😁
I currently have around 10k that is in an underperforming ISA with an investment company. This is the remaining balance of an inheritance that they looked after for me. I would now like to withdraw this remaining 10k but don’t know what to do with it ! I would like to be able to access the money but happy to give notice for that. Just looking for some guidance as I am fairly clueless 🥴
Many thanks 😁
0
Comments
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Why do you believe your investment is under performing? Most investments have fallen since the end of last year. What are your investments? Names of funds would help.
Selling because of a fall in value is normally a bad idea, it makes more sense to wait until you can get a better price for them.
If you want to access the money at any time your only safe option is a savings account. Investments which have a good chance of providing a better return are not suitable unless you can leave the money untouched for at least 5 years.
2 -
If it was the original £90k that you had invested back in February 2016, then I think 'underperforming' is an understatement...1
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I currently have around 10k that is in an underperforming ISA with an investment company.Underperforming how? - this is important because a loss period does not mean it is underperforming. So, are you referring to the recent loss period or are you comparing to comparable investments in the same area?
You asked about investing £90k in 2016. You have just £10k left. So, what happened to the rest of the money? Have you been periodically taking money out of the investments? (helps us understand if this £10k left is going to go the same way).
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.2
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