Are you the Next UK ISA MILLIONAIRE?
Many UK residents do not comprehend how generous the government provides tax payers who save money! Yes, its all about the ISA, ISA, ISA. I have been blogging many times over the course of my career to stress how fantastic the UK ISA programme is. As written on the tin, UK ISA is a tax free programme which limits a contribution of £20,000 per year (2018/19 tax year).
If you invest this £20,000 in stocks and shares and turned it into £1m, the entire amount of money is TAX FREE!!
UK ISA is 20 years old in 2019. There have only been a handful of ISA millionaires. From 1999 till 2019, the maximum allowable ISA contribution is £206,560.
In the last 20 years, according to Financial Times, there are 113 ISA millionaires from Hargreaves Lansdown, 20 from Charles Stanley Direct and 10 from Fidelity.
All these millionaires ISA are from the ISA Stocks and Shares programme. Thats 5 times multiple fold in 20 years!
Types of ISA Accounts
HOW TO BE UK ISA MILLIONAIRE FROM TODAY?
Yes, there is a formula on how to be a UK ISA Millionaire in 13 years!
To achieve this benchmark you need 4 key principal elements
The HARDEST PART OF THIS JOURNEY!
The hardest part of this millionaire project is actually saving £20,000 a year. I struggle myself to be honest. Over 50% of UK household do not even have £1,000 savings in their bank savings. Everyone literally lives by the month with the aid of Credit and Store cards month after month.
I myself is a father of three jobs a day. Engineer by morning, Investor by day and written by night. I find means of making money online at night from my computer alone without leaving the house.
Great tips on making money, thanks for sharing such an amazing view.
That was motivational for me.
Thank you very much and happy that you enjoyed it!