Can You Really Become an Isa Millionaire?

For those who can max out the £20,000 annual Isa limit, becoming a millionaire is fairly easy. But what chance for the typical saver with less to spare? 

Holly Black 26 March, 2021 | 9:40AM
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Piggy bank

The concept of the Isa Millionaire emerges like clockwork at this time of year. While many savers are wondering whether or not to even bother opening a Cash Isa with rates so low, industry bods are doing complicated sums to show how investing £20,000 a year could make you rich.

While the annual Isa allowance is undoubtedly generous, it is the stuff of dreams for most savers. And yes investing £20,000 a year for 25 years with annual growth of 5% could make you a millionaire, but those figures are irrelevant for the majority of people.

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About Author

Holly Black  is Senior Editor, Morningstar.co.uk

 

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