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Similar, I saw a 20% gain turn into a -20% deficit now recovered to 12%. Gonna take 50% out and reassess.
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what you are saying is perfectly logical and sounds extremely sensible. obviously the only downside is potentially missing an upswing in the market before you re-enter... guess you will also lose the full potential of a larger ISA wrapper when/if you do re-enter. might not be an issue though
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Sounds like you need the money more than the potential gains - I’d take it out and use it to save current headaches and simply not worry about what might be
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Is there any particular reason for this do we think? I wondered if it was simply devaluation of the Pound.
The S&P500 is up 13% since the end of Q3, which will help!
As others have said, taking your gains and putting it into a 6-12 month fixed rate account (https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#1yrfixtable) seems pretty sensible. Would want to figure out whether that crystallises any CGT liability though.
However, one thing to bear in mind is that paying down your mortgage is a pretty inefficient way to reduce monthly expenditure, because you obviously can't re-borrow what you have paid. On a £200k mortgage it "costs" £20k to reduce your monthly payment by £100.
Maybe get an offset at refinance time and fund it with a bit of surplus cash on day-1?
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MicroDosed™
swedeee
Tenderloin
NickCJ
@Howard
My 'pots' seem to have recovered since the hammering they took earlier this year.
Is there any particular reason for this do we think? I wondered if it was simply devaluation of the Pound.
I'm feeling quite pessimistic about things, so I'm considering pulling a chunk out and paying off some mortgage debt as I won't be banking a loss (more like a fair gain for the limited time it's been in the market) - we have to remortgage early next year, and the rates are going to be a very different story to last time and our energy bills will be crushing at the same time.
If I keep this chunk in the market (because we think it's going to continue to do well) then it would have to do very well because it would mean
Obvs. I'm angling for more pay at work but that's not a done deal.
Would welcome any thoughts
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