Poor investment idea...what next?

alicemary

This time last year I was persuaded by my bank to invest in a share scheme. At the time I did not foresee that I would need this money (2500£) urgently within a year - I fully intended a long-term investment of at least 5 years.
Now I need this money quite badly, but the shares have taken such a tumble in 18 months, I have lost 100£ of their value. On top of this there is a fee for selling them (the bank takes commission).
Should I leave the shares where they are? Or take them out?
I feel very foolish for letting myself be persuaded into such an investment

debbie42

£100 out of £2500 isn't so bad, given the turbulent times we've had recently. What exactly is it you've invested in, and what are the bank charges?

jamesd

If you need the money take the money. 100 is a minor drop given what has been happening.

There's no need at all to feel foolish about investing. Changes of circumstances and the possibility of needing the money during a time of decreased value are one of the risks that you take in exchange for the higher average growth that is available from investments.

alicemary

I think I will. It's a portfolio managed by my bank. I have debts that could be paid off with this money, so I suppose it does make sense to withdraw it and put it to better use.
Next time I'll try and be a bit more sensible!

chesky369

Alice, I think that's the whole point of this website - you learn from your mistakes. We all make them, even the professionals (sometimes especially the professionals). The thing to do is say 'well, won't be caught THAT way again' and build on it.

dunstonh

alicemary wrote: »

I think I will. It's a portfolio managed by my bank. I have debts that could be paid off with this money, so I suppose it does make sense to withdraw it and put it to better use.
Next time I'll try and be a bit more sensible!

If you have debts then you could claim a mis-sale. Mortgage not included that is as that is generally acceptable as investment returns can exceed mortgage rates but with credit cards and personal loans it is less likely.