What to do next - BOI life plan

[MargeSimpson]

On the advice of my local BOI savings investment advisor, 18 months ago I moved a lump sum to a Special bonus investment plan. I was paying 400+ a month into it. I checked the value of the plan this morning and it's just a couple of euro above the original lump sum amount.
Have I lost all the money I was putting into it monthly?
What next, should I just quit and cash in the plan now. If I've lost 8000+ euro I'll be gutted. And now I'm looking at redundancy (which prompted the phone call)

 

[Guest128]

What are the T&Cs of the plan? If its an investment fund they usually indicate "the value of your investment may fall as well as rise" so I would think whatever value is there is all its worth....

 

[MargeSimpson]

No I understand that Flanders, it's just sinking in what I've lost. I think I'll just quit and cash in what I'm left with.

 

[Guest128]

I would think so. If you want to safely (assuming the banks dont go bust!) there are some decent fixed rate interest accounts for a lump sum available...check out the best buys section.

 

[mercman]

On the advice of my local BOI savings investment advisor

I can never understand as to why we all take that what these so called advisers as been true and correct. These people are nothing but sales people, simple as that. In the norm they have qualifications in nothing, simple as that.

As for your savings and Investment Plan, it should be noted that equities historically normally recover before other asset classes in difficult times. \there is only one thing certain that if you cash in now, the money which you worked hard for will likely be spent and then you will then have nothing but a few memories.