Author Topic: Royal London 360 - I dun goofed  (Read 73320 times)

theolympians

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Re: Royal London 360 - I dun goofed
« Reply #200 on: February 09, 2017, 07:17:38 PM »
I don't get the investment. Is there a 60000 lump sum with no additional contributions? Or do contributions continue? I thought I read somewhere in here that a person was paying a couple grand a month to them.

I don't really understand what the investments are in. Are they common funds that are available anywhere but Quantum happens to have their own fee structure?  Or do they have their own funds?

quantum123

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Re: Royal London 360 - I dun goofed
« Reply #201 on: February 09, 2017, 08:23:39 PM »
The Quantum plan is designed for a fixed amount every month for the full term (20 years for some). You will be punished if you pay less than that agreed amount. The Oracle is a lumpsum scheme.

The funds are "common" funds. RL360 is supplying the access and administration.

I don't get the investment. Is there a 60000 lump sum with no additional contributions? Or do contributions continue? I thought I read somewhere in here that a person was paying a couple grand a month to them.

I don't really understand what the investments are in. Are they common funds that are available anywhere but Quantum happens to have their own fee structure?  Or do they have their own funds?

Little Bird

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Re: Royal London 360 - I dun goofed
« Reply #202 on: March 20, 2017, 07:53:35 AM »
I've been in the RL360 Quantum fund now for 4.5 years. I'll admit and say I was much more naive then than I am now, and I'm still pretty naive! But my senses started tingling late last year and after finding this site and some other stuff on Reddit I spoke to my advisor today who did nothing to allay my fears.
If I bail out by the end of this month I will lose about $20k and my wife is pretty mad to say the least...
I started with an $800/month deposit but reduced that to $300/month for the past 15 months or so. I was going to increase my premiums again but now I'm thinking just to cut my losses.
I've run the spreadsheets that I found on the earlier pages. Thanks a lot, they proved very insightful. But I have a question,
the Premiums Ifl Adjusted column, if the IOM RPI rate changes monthly how can you make an accurate chart? Do you have to input each time it changes?
On my RL360 portal is says my account is up 11.65% since inception. Initially that looks good until I worked out how much fees I'd paid over the past 4.5 years, admittedly my premium amount decreased so my overall return is lower.
When I look at the Profit/Loss column after 30 years though, that's pretty disheartening...

NoStacheOhio

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Re: Royal London 360 - I dun goofed
« Reply #203 on: March 20, 2017, 09:35:38 AM »
I've been in the RL360 Quantum fund now for 4.5 years. I'll admit and say I was much more naive then than I am now, and I'm still pretty naive! But my senses started tingling late last year and after finding this site and some other stuff on Reddit I spoke to my advisor today who did nothing to allay my fears.
If I bail out by the end of this month I will lose about $20k and my wife is pretty mad to say the least...
I started with an $800/month deposit but reduced that to $300/month for the past 15 months or so. I was going to increase my premiums again but now I'm thinking just to cut my losses.
I've run the spreadsheets that I found on the earlier pages. Thanks a lot, they proved very insightful. But I have a question,
the Premiums Ifl Adjusted column, if the IOM RPI rate changes monthly how can you make an accurate chart? Do you have to input each time it changes?
On my RL360 portal is says my account is up 11.65% since inception. Initially that looks good until I worked out how much fees I'd paid over the past 4.5 years, admittedly my premium amount decreased so my overall return is lower.
When I look at the Profit/Loss column after 30 years though, that's pretty disheartening...

Show her the spreadsheet, and the difference between just taking the loss now, and letting it drag out for another ~25 years. That's long enough for a child born today to get a Master's degree and start a career.

If she's just going to get mad that it happened in the first place, that's kind of petty. Plenty of people get suckered.
The first step is acknowledging you have a problem, right?

Little Bird

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Re: Royal London 360 - I dun goofed
« Reply #204 on: March 20, 2017, 09:44:59 AM »
Nah, she was initially skeptical of the whole thing as I could pay via credit card and she thought that dodgy, so as well as being mad at the whole thing it was also "I told you so!", haha

StockBeard

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Re: Royal London 360 - I dun goofed
« Reply #205 on: March 20, 2017, 09:46:43 AM »
You can assume a constant 3% for isle of man inflation for example. As far as I remember, that number doesn't have a huge impact on the overall result.

Little Bird

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Re: Royal London 360 - I dun goofed
« Reply #206 on: March 20, 2017, 09:59:50 AM »
Ok thanks.

quantum123

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Re: Royal London 360 - I dun goofed
« Reply #207 on: March 21, 2017, 12:48:55 AM »
Ok thanks.

Welcome to this very sad club... Please contact >angryperson< if you are interested in going after RL360.

If you cannot pay the 800usd until the plan is matured - then strongly consider to drop it! Smaller contributions will hardly cover the fees, which, asyou discovered yourself, are humongus. I am in 33000usd so I know all about what you are going through - my wife was also the smarter one :) My advisor is afterall trying to patch things up (most likely not to lose all of his bonus) which mean that my money also are not lost yet.

DavidAnnArbor

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Re: Royal London 360 - I dun goofed
« Reply #208 on: March 21, 2017, 08:46:15 AM »
ok MMM administrator please make this thread or make a warning about this company a wiki at the beginning of Investor alley.

It's time for MMM to do everything possible so other people aren't screwed over by this financial Madoff like scam !!!!

Little Bird

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Re: Royal London 360 - I dun goofed
« Reply #209 on: March 21, 2017, 08:44:39 PM »
So do you think that the even after 5 years, in my case, my "advisor" is still collecting her commission? She hasn't even replied to my email from two days ago and when I think about it, all the delays etc in communicating over the past years just makes me even more mad. So if I can help to screw her now, that would be some reward.
I'm going to take the hit and then put what I get back in a Vanguard index fund.
I'm really happy I found this, better late than never. And I'll say that given my troubles, my interest now in investing has increased dramatically. I'm reading Andrew Hallam's books and find them easy to understand.
So maybe a silver lining from all this? Try to be optimistic...