How ISAs Can Help You Accumulate a Multi -Million Pound Fortune
By Stephen Sutherland, author of Liquid Millionaire.Posted in the Category of ISAS, SIPPS, Investing, Stock Market, Investment Fund, Wealth Building on 23rd October, 2009.
Tags: how isas, isa, isa trend investing, multi-million pound, rich, tax-free portfolio.
How ISAs Can Help Make You Seriously Rich
Today I want to show you how ISAs can help you accumulate a multi-million pound fortune.
In my previous blog I talked about the second key step in ISA Trend Investing – Find a Quality Fund – and how this can help you to make millions from an up and coming stock market boom.
Today I am going to tell you about some of the people who have already used ISAs to acquire a multi-milion pound, tax-free portfolio so that you can see exactly what is possible.
ISAs – The UK’s Best Kept Secret
ISAs are fantastic. Yes, they really are the UK’s best-kept secret and it is not common knowledge about how they work or how powerful they are. Many people think that when they take out an ISA with a bank, their ISA has to remain with that same bank for life. A few people mistakenly think that they are locked in and can’t move it. Both these myths are utter nonsense.
With your ISAs, you have the power to control where your money is being parked or invested. And you can change your mind at any time. And if you have been placed in a Stocks and Shares ISA by your bank manager, broker or financial adviser, with a little training, it is really easy to check to see how good their recommendations have been.
This is just one of the things my clients are taught when they become a member of the premium service we offer at ISACO. And when they have that knowledge, clients tell me that it makes their bank managers, brokers or advisers feel very nervous. Knowledge of the characteristics of a good fund versus the characteristics of a bad fund gives you serious power over your adviser.
Real ISA Millionaires
Most people in the UK are totally unaware that ISAs can help you accumulate a multi-million pound, tax-free portfolio.
However, some lucky people have already reaped the benefits. John Lee, a former Government minister, is one person who made over a million using his ISAs and so are John and Judith Housden, a retired couple who live in Kent.
And John Cotter, associate director of Barclays Stockbrokers said that some of his clients had built up ISA portfolios valued at over one million pounds.
Did you know that an ISA is not an investment, but is the name of a wrapper that goes around an investment sheltering it from the Inland Revenue?
Think about a sweet in a wrapper. The investment is the sweet and the ISA is the wrapper.
Did you know that there is no limit to how much your tax-free pot can grow into?
Yes, it’s true. If you start with say, £1000 and eventually over time it grows into, let’s say, £1 million, all of that £1 million would be tax-free.
There are simply two types of ISAs; Cash ISAs and Stock and Shares ISAs.
Were you aware that it is possible to make 15% to 20% returns – instead of 5% or 6% – by simply transferring your Cash ISAs into Stocks and Shares ISAs?
Yes, it’s true. Any funds in existing Cash ISAs are transferable to a Stocks and Shares ISA. To put it another way, if you have built up a stock pile of Cash ISAs over the years, they can now be rolled into a Stocks and Shares ISA. This is great news for anybody who has a desire to get 15-20% tax-free returns instead of 5% or 6% returns.
If you would like to find out more about how ISAs could help you accumulate a multi-million pound fortune please contact a member of my team for a chat. You have my word there will be no sales, no jargon, just the facts.
Your friend,
Stephen Sutherland
The UK’s Leading Authority in ISA Trend Investing and Author of Liquid Millionaire
Please Note: As always, let me remind you that I am not a financial adviser and therefore not authorised to give advice on what investments to buy or sell.
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