Paging Tiggs....
17 March 2003, 07:39 PM
#1
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Tiggs or anyone else in the Finance know......
I know this is a bit of a liberty, but I know you are an IFA and was wondering what you thought about me investing the 7K I got from my endownment company (to cover shortfall).
I was thinking I might put it into a ISA as I kind of assumed the market was as low as it was likely to get for some time and would (one would hope) go up from now on. Therefore anything invested now would gain well over the remaining 15 years.
My endowment company is telling me I need to invest an additional £123.79 a month to 'ensure' my payout is sufficient to cover my £69K mortgage, for which I am currently paying £96.13.
On the other hand, I could just use one of the PEPs I took out a few years ago as an ongoing investment and hope it clears enough to pay off the majority of the predicted 33K shortfall.
I know this is a bit of a liberty, but I know you are an IFA and was wondering what you thought about me investing the 7K I got from my endownment company (to cover shortfall).
I was thinking I might put it into a ISA as I kind of assumed the market was as low as it was likely to get for some time and would (one would hope) go up from now on. Therefore anything invested now would gain well over the remaining 15 years.
My endowment company is telling me I need to invest an additional £123.79 a month to 'ensure' my payout is sufficient to cover my £69K mortgage, for which I am currently paying £96.13.
On the other hand, I could just use one of the PEPs I took out a few years ago as an ongoing investment and hope it clears enough to pay off the majority of the predicted 33K shortfall.
18 March 2003, 01:07 PM
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ok- for a 7K isa to reach 33k in 15 yrs you need to hope for growth that would be considered very good in todays markets- personal i think you may well find it achives it but it is a gamble- bearing in mind you have just been compensated as your last gamble didnt work you may want to do something less risky....which means you need to add to your 7K so your requiremnet for growth is reduce and so you can afford to use more cautious underlying funds.
T
T
18 March 2003, 07:40 PM
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Tiggs: Thanks for the comments. I think I will invest it alongside some existing ISAs and hope all of them come up with enough capital to pay things off. If not by then my house will be worth 10 million squillion pounds, so 33K shortfall will mean sod all!!
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