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ISA

Losing money?

Male
CircusMaximus  Male  North Yorkshire
12-Sep-2020 08:36 Message #4792094
I was asked for advice but didn't have the answers. If your ISA's value is going down what should you do?
Female
wonderoushen  Female  Gwynedd
12-Sep-2020 10:42 Message #4792119
Look around for a new one? I'm guessing you mean the interest rather than the capital? If the capital is disapearing then I'd check for fraud. May check out Which Magazines financial pages?
Male
BOYDEL  Male  Surrey
12-Sep-2020 11:16 Message #4792122
I assume OP means Stocks&Shares ISA - in which case it's a decision between crystallising a paper loss by selling - rearranging the portfolio if possible - or sitting tight in hope of a recovery.

Interest bearing savings accounts per se usually lose real value over time as interest rates almost never exceed underlying inflation - main exceptions being junk bonds eg ICESAVE.

Whilst ISAs come under a broad heading of savings accounts - the stocks&shares derivate is an investment per se - core difference with a savings account being that one never loses the capital but it's real value may shrivel with underlying inflation - whilst the stock based ISA can see stratospheric returns in good markets but the opposite in falling markets.

General ethos of investing per se - in any sector - is never to invest more than you can afford to lose. Many pension investors lost up to 2/3rds of their fund's value in the Credit Crunch era which forced many to continue working for many more years. In UK pension rules are quite complicated and the unwary can end up paying more tax than needed.

Hence some have elected to invest instead in eg ISAs/residential property as that gives freedom to take out cash when they choose - rather than being constrained by the minimum age 55 - soon to increase to age 57.

r
Male
Pboro Trevor  Male  Cambridgeshire
12-Sep-2020 11:24 Message #4792124
If you are talking about a cash ISA - you would get a better return from Premium Bonds

If it is a stocks & shares ISA - consult an IFA as you need help

Trevor
Male
BOYDEL  Male  Surrey
12-Sep-2020 12:03 Message #4792126
https://www.moneysavingexpert.com/savings/best-financial-advisers
23/08/2018 · For years, IFAs were paid in one of two ways - either by fees (you paid upfront) or commission (they took an ongoing cut, which varied per product). By law they were required to give you the option of either. But since 31 December 2012, IFAs have been banned from accepting commission from providers on products, such as investments and pensions.
Male
Kimjongun  Male  South Yorkshire
12-Sep-2020 17:32 Message #4792135
I try contact my IFA, but he always in Caribbean, he have yacht and stuff.
Bank not find him either, he very good, not charge anything.
Last contact, he sent me a photo of him on jet ski.
Even sent me a copy of Jet ski receipt.
Male
brisinger-the-beekeeper  Male  Lancashire
12-Sep-2020 17:53 Message #4792136
P2P such a zopa and ratesetter generally give a better return on investment than stocks & shares at the moment.
Male
BOYDEL  Male  Surrey
12-Sep-2020 18:00 Message #4792137
Agreed but capital is at risk with all three options.
Male
brisinger-the-beekeeper  Male  Lancashire
14-Sep-2020 01:37 Message #4792259
That's not strictly true with Zopa anymore because it is the first P2P to get full bank licence as of June this year.
Male
persona_non_grata  Male  North London
17-Sep-2020 08:31 Message #4792513
So many investments have been losing money the past few years. The good old days of whacking a few grand under the mattress are long gone,


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