Reply to: Endowment matures

[TestMangler]

I am very well endowed

does that count??

Do you expect it to reach it's projected value when it matures ??

[original PM]

I am very well endowed

does that count??

[fullyautomatix]

Could you tell that to my pension provider?

Was there a promise that you will get at least what you paid in ? Or was there a small print that said you could end up with less money if the stock market crashes ? Most of these types of investment derivatives depend on stock markets, gold prices and a variety of asset classes and how the value of these asset classes go up or down. The fund managers gamble with funds that they dont own and when the gamble does not pay off they pass the losses on to the unsuspecting punter. If the gamble pays off they pocket shed load of bonuses and pass on as less profit to the punter as they possibly can.

[DimPrawn]

Especially if it's in the south east

Yep. This advice does not apply to most of the north, midlands or wales.

[Old Hack]

Deposit on BTL property. Property only ever goes up, especially with 20 years of money printing in the pipeline and continued large scale immigration to this country.

Especially if it's in the south east

[DimPrawn]

Deposit on BTL property. Property only ever goes up, especially with 20 years of money printing in the pipeline and continued large scale immigration to this country.

[Support Monkey]

Never look back, always look forward; his mis selling ship has sailed, so concentrate on the bonus of suddenly having £37k to spend.

Personally, I'd buy many acres of woodlands nearby. As part of a plan B

Very true no good worrying about what could have been, enjoy!!

[FiveTimes]

I'd save it all as I will need every penny now I'm permie

ftfy

[MarillionFan]

Stick it on black.
No red!
No no black!!!!

[Old Hack]

Never look back, always look forward; his mis selling ship has sailed, so concentrate on the bonus of suddenly having £37k to spend.

Personally, I'd buy many acres of woodlands nearby. As part of a plan B

[Support Monkey]

Endowment taken out for first property sooooooooo long ago matures this December

Had all the usual "you policy is at risk" arse covering letters over the years - but as the mortgage is already paid off I kept it running for the life cover and as a savings scheme

Policy was to cover a £47500 mortgage (eeee houses were cheap in them days!)

Payout is £36595 so a 23% undershoot! and I remember at the time the bint who sold it suggested it should be worth £60000 at maturity on current projections

Feels like institutionalised mugging

What should I spend £36595 on?

I don't think thats anything to celebrate, you just lost 11 grand, what you should have done is gone down the mis-selling route when you had the chance, you would have got back what you paid plus interest to put you where you would have been if you had been interest only.

[Lockhouse]

I've got two endowments coming out in 2014\5. Both effectively 30% down on what was originally estimated. Was a total rip-off but I was young and naive when I took them out and by the time I realised what poor investments they were it was too late to get out and better to let them run to term. Still, they'll get me a nice motor and a house extension as the mortgage they were supposed to cover is long gone.

[mudskipper]

Getting less than you paid in is fraud in my view it should be at least what you paid in plus risk free interest rate.

Could you tell that to my pension provider?

[BlasterBates]

Getting less than you paid in is fraud in my view it should be at least what you paid in plus risk free interest rate.

[mudskipper]

Yep - we went down the misselling route a few years back when it all came to a head. Got back what we'd paid in, plus interest as dictated by whatever authority decides these things (but seemed fairly generous).