with all the news of the FTSE crashing a few months ago and the threat of it getting worse before it gets better, whats the worst that could happen to people that are investing in the FTSE100?
A few years ago I shifted about 15k in family assets from ISA's (Which were making absolutely nothing) to 2 accounts that worked around the FTSE100, admittedly I have no fucking idea how any of the shit worked but I spoke with my bank manager and through him I settled with 10k in an account that is locked for 6 years, with interest capped at 17%, I also paid a fee that paid some professionals to shift my shares between different companies etc, or something along those lines. This is a no loss sort of account, at the end of the 6 years if the market and the investors have made no profits, I get my investment back (minus the fees i presume), if it does well I get the interest at a maximum of 17%. It may have been more than 17% actually, cant remember now and all the paper work is back in the UK.
the other 5k was put into a less secure account which worked in a similar way but without the safety net of money back, as the benefit of potentially higher interest rates.
After the first year I got a balance on the 5k account, which got me about 10% which I was pleased with really, much more than the ISAs was making combined, for some reason I never got the second years statement and after asking the bank I was told I would receive one, I'm not sure if it arrived as I left the country a few months later and thinking about it, I am actually past my third year now.
The other account is apparently sealed until the day the 6 years are up so I cant find out how its doing.
So, after all that bollocks, what exactly is the worst that could happen? I can withdraw the 5k and I'll probably lose out on 400 quid or so worth of fees, or just leave it and see what happens.
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