Elmer Fudpucker

5 years ago I invested 50k with Scottish Widows.

Now I'm not brighest lights when it comes to money,but as far as I know SW invest your money somehow,stocks and shares I presume,but gaurentee that at least you will get your initial investment back.

Next month the policy's 5 years is up so I was just wondering if any experts could suppose a figure as to what my money might/could have earned...I'm guessing nothing tho

paulr

Impossible to say with the limited information you have given.

Elmer Fudpucker

Fair comment,any ideas what that amount would earned over the same period in a high interest account?

KiwiGTI

Anywhere between £60000 and £120000 depending on where and how it was invested.

kammy

I work in investments,as mentioned earlier you need to supply more info.

Companies such as Neptune have been returning 80%! In some periods. But other companies such as Western barely outperform their benchmarks (eg the FTSE 100).

I am currently earning 4.50% in my saver account if that helps!

Elmer Fudpucker

On top of the original 50?...just starting to panic that my money may have been used to help the Building Society profit and all I'll get is a thankyou letter and my original outlay back

KiwiGTI

No, including your original amount. The lower figure would be if it was around 4% as in normal savings accounts, the upper figure if they averaged around 20% over the last 5 years.

Elmer Fudpucker

OK,Thanks guys

Deep Singh

Don't SW give you a yearly update on the value of your investment?

Elmer Fudpucker

Nothing that meant anything to meI'll try and find out a bit more tomorrow

andythejock01wrx

Ok Elmer, when do you place the order for the new Litchfield ?!

Elmer Fudpucker

Sunseeker mate..wouldn't have an import if you gave me one

Trout

iTrader: (1)

I would expect your return to be somewhere between 50 and 65 including your original investment.

You should have been given an annual statement indicating what you returns were. Also, five years ago there were very few guaranteed products in the marketplace so it is possible that you have lost money.

Kiwi's projections are exciting but VERY unlikely to be realised by Scottish Widows as they are a Life company and their products tend to be far more conservative unless you get lucky with your fund choice.

Also five year products do not give the highest returns as you initial and annual management charges will really eat into your original investment. Typical cost in the first year of a £50k investment will be £3k unless you did a deal with your IFA/Adviser. Then allow for at least 1-1.5% per year in further charges.

Anything over £65k in five years from a Life company and you will be doinf very, very well.

Rannoch

The Snug Rhino

phone them up and ask them!

you may as well be asking "i took my car in for repairs but i dont want to call the garage so can SN tell me the bill".....we have no idea what you have with them. Could be a Unit Trust could be WIth Profits Fund, A Bond...who knows? Could be in their cash fund, fixed int. or their pacific basin fund.

Elmer Fudpucker

Well,here's how much I actually got for fifty thousand pounds invested with Scottish Widows for five years!
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..are you ready for this?
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.£151,yup thats right one hundred and fifty pounds

So with fire in me belly,I've written to them accusing them of mismanagement of money..blah blah

but they tell me it was all FTSE related and will investigate anyway...will take up to 6 weeks.

Sunseeker on hold

MattW

ooops, I hope no one has a pension with them!!

AudiLover

unlucky mate.

Stick that 50k in audi. 2007 will be a big year for them, especially if porsche pull off their sneaky takeover.

Elmer Fudpucker

I'd rather walk,thanks anyway

lightwave693

thats unreal, in a good savings account, say at 5% you should make 12500ish over a 5 year term!

AudiLover

audi grew by 9.5% in 2006. As soon as they crack the american market where they dont sell well due to a slander campaign against them in the 80's, they will be leading premium manufacturer. BMW are shakin in their bootsies, especially seeing as for their 2010 and 2011 model year all of their major selling models will be aged like pslewis with replacements still far from site due to them having concentrated on developing niche vehicles.

Audi Sold 905,000 cars in 2006. In 2007 it will reach the million mark, and 2008 overtake MB.

davyboy

Compared to other premium brand manufacturers, what is there:

ROS and RONA?

mart360

i bet youve been stung by the old managed account scam!!!

they take your money, and an account manager looks at your account everymonth to make sure the investment is doing well.

Oh and thats £200pcm for the priveledge, net result, you loose ,they win.

ISA would have been your best bet


I got stung on a life insurance policy.... 20pcm rising by 10% every year... I asked what the payback was, ie over what term... oh no term they replied, its an ongoing policy, you get nothing back!!!

I cancelled pronto, so what did they do.... rather than refund, they used my investment to copntinue paying untill it ran out, and then the cheeky ***** only wrote to may demanding more cash.... two words......F O


Mart

Wish

iTrader: (2)

Fek me ... Really sorry to hear that fella. I trust no one with my money except me. and today its worked well.

Petem95

Thats unbelievable - if they'd invested in emerging markets you could have seen on average over 20% per year, so you would be looking at about £125k.

Make sure you invest the money a bit better now you've got it back - get your ISA's filled up if you havent already, then do a bit of research before investing the rest! Russia, China, India all look like strong bets with rapidly expanding economies, and if you want to be safe with some of it you could just go for some instant access savings accounts online and 5.45% AER, and probably over 6% by the end of the year.

davyboy

£151!!

I can't imagine how dissapointed you must be!

Trout

iTrader: (1)

It still amazes me that you manage to dress yourself in the morning

Explain the scam to me in managed funds - its clear up front what the charges are and if they have not been disclosed you have a very clear route for recompense - this has been true since the early '90s and the FSA regulation on disclosure.

Also many ISAs are managed funds so your advice on that is rubbish as well.

Finally, why does a life assurance policy have to pay out? Most term policies pay out nothing unless you DIE or contract a terminal illness.

Sadly for Elmer a five year term policy is probably the worst investment you can make with a lump sum, you can get lucky in the marketplace but unlikely.

Nowadays there are guaranteed bonds that would be much better value (8% per annum) but these were not around five or six years ago.

Rannoch

SJ_Skyline

5% compound over 5 years would have left you with £63814.09

In your shoes, I would speak with an IFA before investing that sum of money for that period of time. I would be tempted to keep the money somewhere easily accessible should interest rates go up I could wipe a chunk out of my mortgage.

Matteeboy

OUCH!!

Just about to stick a half decent sum into A&L (5.65% at present) - Hopefully that's safer?

We may need access to it so a long term bond would not be suitable.

jaytc2003

iTrader: (1)

If you have a mortgage, why not switch it to an Australian type mortgage, halifax do one. You have have your bank accounts with them, but you have you savings in one acount and then a current account. Basically the interest on your savings is payed off on your mortgage so you reduce the terms of the mortgage by a good few years

The Snug Rhino

"Thats unbelievable - if they'd invested in emerging markets you could have seen on average over 20% per year, so you would be looking at about £125k."

what nonsense, he bought a guaranteed investment and you suggest they should have stuck it in high risk equites?

You might as well say that Ford fitted my Galaxy with a 2.8V6 but they should have used a 5.5V8 as it would have gone faster - maybe i should sue Ford?
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