It is possible to become a millionaire through ISA investing, according to Barclays Stockbrokers.
Barclays says that Investment ISAs can help set a framework for investors' trading and says that there are even people who have become millionaires without giving a penny to the taxman as a result of regular investing within an ISA wrapper.
has a number of clients who, despite the performance of the markets in the last year, have been clever enough with their stock selections over time to have become ISA millionaires," explains Barclays Stockbrokers.
"Of course, it is the investment strategy not the ISA that has made them millionaires," says the retail stockbroker, "but consider how much they might have had to pay in tax if they held that amount outside of an Investment ISA
but had to sell up. They might still only be in six figures, not seven."
Barclays Stockbrokers says that although most investors learn at an early stage about the benefits of pound-cost averaging, not everyone takes full advantage of the investment structure that an Investment ISA can provide.
"Investing into a stocks and shares ISA as a base to your investment strategy helps set a framework for your trading, which can be a useful discipline," explains Barclays Stockbrokers.
"It can be a great way of smoothing out the peaks and troughs of stock market investing, and is particularly useful during volatile periods when share prices can fluctuate enormously."
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