Liquid Millionaire - isaco

Real ISA Millionaires
87
Liquid Millionaire
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 benefi ts. John Lee,
a former Government minister, is one person who made over a million
using his ISAs 67 and so are John and Judith Housden, a retired couple
who live in Kent. 68
And it was only recently that John Cotter, associate director of Barclays
Stockbrokers said that some of his clients had built up ISA portfolios
valued at over one million pounds. 69
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?
Th ink about a sweet in a wrapper. Th e 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? 70
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.
Are you aware of the 2008 changes made to ISAs?
You should be because they may have aff ected you in a positive way.
Now 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?