ISA Recommendations (aka "where do I put my millions?")

[Peoplesoft bloke]

You'd need like 100 previous years though?

Incorrect - as Crack Ho's post shows.

This is nearly as funny as the debate you tried to have about 95% mortgages. I hope you aren't in charge of anything financial.

[AtW]

Incorrect - as Crack Ho's post shows.

Apologies, I am just an honest tax payer who pays his tax in full when it due - have not thought of dirty spekulant millionaires abusing the system that was meant to have been capped to very small values (£3k recently, and some shares).

[Doggy Styles]

You'd need like 100 previous years though?

Your 100 years assumes no growth.

If I recall correctly the average growth of a static fund (no more cash input) over the past 100 years, with dividends re-invested, is the equivalent of 11% per annum.

With compounding I think that means it doubles every 7 years.

If true, at a rough guess, £10,000 would have become about £80 million.

And that's before you factor in the extra £10,000 every year, which would put it above £1 billion.

[AtW]

If I recall correctly the average growth of a static fund (no more cash input) over the past 100 years, with dividends re-invested, is the equivalent of 11% per annum.

Madoff was giving "unusually high consistent returns" of around 11-12% per year, how can you assume that risky ISAs put into stock market would give the same?

[Doggy Styles]

Madoff was giving "unusually high consistent returns" of around 11-12% per year, how can you assume that risky ISAs put into stock market would give the same?

I did say if I recall correctly. I'll dig out the figure, but I know it's higher than one thinks.

[AtW]

I did say if I recall correctly. I'll dig out the figure, but I know it's higher than one thinks.

So what you saying is that basically those ISAs were giving close or higher returns that convicted fraudster Madoff who, in retrospect, was said to have offered way higher consistent returns than anyone else?

[Bagpuss]

£12 Million ISA

I doubt anybody with a £1m+ ISA had to wait until the deadline to top up!

That article is very misleading as it's also including PEPs which existed since 1987, IIRC ISAs started in the late 90s

[AtW]

That article is very misleading as it's also including PEPs which existed since 1987, IIRC ISAs started in the late 90s

1999 to be exact.

Initial limits were pretty strict, so anyone who claims it is possible to have a million quid in ISAs either is a liar, or had loads in PEPs before that time (were they not limited?) or pulling a DimPrawn on us.