M
Given that you've already suffered quite a loss, transferring your existing fund to cash now only serves to lock in that loss and prevent you from participating in any recovery.
Why does converting to cash now "lock in the loss", why can't MickeyD play safe now convert to cash and then convert back to equities when (if) the recovery happens?
Looks very risky to me staying in equities right now, I agree you need to be watching the market closely to switch back as quickly as possible when the market really turns, (waiting for that elusive "double bottom",Is that not one of the riskiest strategy imaginable? I am no expert now but that sounds very risky to me.
Generally, its difficult to give advice when you havent discussed a persons own feelings towards risk and their own specific goals.
This is a general piece of advice intended to be taken as is stated . . It may not be relevant to all reading . .
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hi
i am wondering if any of you have advice re continuing to pay AVC's. i signed up with irish life and am paying the highest rate of AVC. it has taken a hammering in value,like everyone else.
i know that i can stop payment and resume again at a learer stage or i can reduce what i am paying now and increase again at another stage.
i'm just confused as to what to do, on the one hand i imagine that i am buying cheap now and when the turn around comes then the value should increase...but it may be years before this happens and in the interm i will have lost money... or maybe the biggest losses have happened, of course none of us know if we have reached the worst... i am lucky in that at the moment i can afford to keep paying the current rate of AVC ( but when the new taxes kick in next month, it may be very different). thanks in advance for any help given.
The first bit of financial advise I have seen in a long time that makes sense to me and I perceive to be unbiased.
NorthDrum
thank you so much for your advice. at least i know now some questions that i have to ask irish life and i can select some options. much appreciated
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