I shouldn’t be, given all the misselling scandals there have been but this sad and totally avoidable situation has left me gobsmacked. 

Borrowing money linked to an investment return should have been something which was treated with caution when endowment returns started to fall. These were another can’t fail investment which were aimed at paying off a mortgage at the end of the term with plenty spare to fund a luxury treat or two. 

These poor people not only used their savings to buy into this can’t fail investment but they were also then advised to remortgaged to put more money into it to get a better return. 

So let’s just get this straight – there are no get rich quick, cover your bills schemes that work and are risk free. Sure you can invest but you need to remember that the value of shares goes down as well as up and you can’t count on continual up. 

Investors beware – if you don’t understand the product, then don’t invest in it. 

The only way of trying to get close to achieving what they were trying to do which was maximise income whilst keeping a track on outgoings is to take personal control  – there are ways in which you can harness your assets to work for you and ways in which you can exploit your skills and talents to do the same. 

 If I can help anyone at all it’s by passing on a few simple rules:

1 – if someone is trying to sell you a product like this then ask what their commission or performance related bonus is. 

2 – if you don’t understand the product, don’t invest.

3 – if it sounds too good to be true it probably is.

4 – don’t feel under pressure to buy.

5 – don’t feel you are stupid if you want to seek a second opinion.