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Borrow or use investment policy?

  • 20-03-2008 10:38am
    #1
    silvine
    Registered Users, Registered Users 2 Posts: 3,132 ✭✭✭


    I need some cash asap and am considering either taking out a short term loan or cashing in an investment policy (which has lost 25% over the last few months).

    Any suggestions?


Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,856 Mod ✭✭✭✭Henry Ford III


    If you can afford to repay a loan, then do so. It makes little sense to crystalise a loss on a policy at this point. Assuming you are in a reasonable fund, and that the ongoing costs are not silly, the rate of return should be higher than the interest on a loan.

    It (policy) may take a while to recover however.


  • #3
    silvine
    Registered Users, Registered Users 2 Posts: 3,132 ✭✭✭silvine


    The return was okay until the the turmoil of the recent months started. It's one of those Eagle Star funds where you pay in every month into a range of funds split across Europe, China and the US.


  • #4
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,856 Mod ✭✭✭✭Henry Ford III


    I'd keep it going tbh. You are buying cheap units right now.


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