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How to become an Isa millionaire

Journalist: Marc Shoffman, Freelance

ended 21. February 2023

Hi, I am writing a piece for the I newspaper about how you can become an Isa millionaire.

I am looking to feature someone who has done this or is in the process of using their ISA allowance each year to reach this goal?

Let me know if you can help as a case study.

Commentary from advisers etc on how to become an Isa millionaire and how long it will take, how much you need to invest etc is also welcome.

Many thanks, Marc

2 responses from the Newspage community

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John Lamerton
Small Business Author at Big Ideas... for Small Businesses
I'm on course to become an ISA millionaire within the next 5-10 years.

In Big Ideas for Small Businesses, I wrote that "anyone who can squirrel away £200 a month religiously can leverage the power of compounding to become a millionaire in their lifetime."

In Routine Machine, I encouraged everyone to have a "get rich slowly" plan, turning millionaire status into an inevitability, rather than hoping for overnight fame and fortune.

I practice what I preach, having started investing £25 a month when I got my first job (which only paid £29.50 a week!). I haven't missed a monthly contribution in thirty years and currently max out my ISA contributions every year, as I accelerate towards ISA millionaire status.

And I am accelerating, thanks to compounding. That first £25 was the best investment I ever made.
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Joshua Gerstler
Chartered Financial Planner at The Orchard Practice
"The steps to becoming an ISA millionaire are simple:

1 - Contribute the maximum into your ISA each year.
2 - Invest in a well diversified portfolio of global equities
3 - Sit back and relax"