How Changes to ISA Allowances Could Help You Make Millions

On October 6th, the annual ISA allowance will increase from £7,200 to £10,200 for investors aged 50 or over this tax year. From April 6th 2010, this new allowance is extended to anyone aged 18 or over.

Together with last year’s new rules, this rounds off the most significant changes to ISAs since their introduction ten years ago.

All the benefits remain; within an ISA you pay no capital gains tax and no further tax on all the growth made. The new rules simply mean ISAs become more flexible and allow you to shelter more of your assets from tax than ever before.

In Part 1 of this series I told you why I welcome these changes and I began explaining how you can benefit from them too. Today I want explain in more detail how you can use ISAs to make tax-free millions.

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How ISA Trend Investing and Longer Life Expectancy Can Help You Make Millions

In a recent blog I shared with you a formula for becoming a liquid millionaire through ISA Trend Investing. I also talked about how it is possible to turn your first million into £75 million by making it a goal to become a centenarian (someone who lives to 100).

The exciting thing is that we all seem to have a relatively high level of control over what age we are going to live to. It is all about cause and effect or as some people put it, sowing and reaping. This means that if you are smart and make a decision that you are going to live a very long life, you can not only enjoy the journey, you can also relish the many decades that follow after you hit your main financial target.

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