I have been putting my money into a maxi isa since 2 years ago.?

Question

When I took this up i was told it would make money for me through stocks and shares. With the current crisis in the market and with a recession looming i am getting a little worried that i am losing a lot of cash. Should i take it out now?

Answer 1

Do not take the money out especially if the current downturn in the general economy is your only reason. ISA investments are long term investments. You have to be prepared to weather out a few ups and downs.

When the price of stocks and shares go down, the value of your investment may also go down but you only actually lose money if you decide to sell up and take the money while they are at the low valuation point.

Answer 2

ISA is a good investment, but the stock market is having a bad time, you have only had your money in for two years, you should have it in for at lease five year to get a good return back, it's the wrong time to take your money out, if I were you I would let it stop were it is.

Answer 3

Whoever told you that gave you very bad advice.

They should have told you that your investment could go down as well as up. I suspect they just lured you in by telling you about the up side.

This is a bad time to cash in, if you don't need the money urgently then you would be better to wait for the market to rise again.

Answer 4

Firstly check that the advice was suitable for you. This is on the basis of did the stocks put into the ISA match your risk profile or your financial circumstances. Contact me on http://www.shareworld.co.uk for advice if you are not sure about this. Otherwise go back to the broker who advised you to do it and ask them for follow up advice. i.e. if the stocks are good quality then maybe it will be ok to hold for the med/long term. Anything slightly risky then sell now.

Answer 5

There is no guarantee that one will make money investing in stocks, anything to the contrary is an illegal statement.

I would not rely on internet posts to make personal buy and sell decisions. Talk to an investment professional in your area with 10-15 years experience for further help.