Become a millionaire in 26 years by paying fully into a NISA - HotUKDeals
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Become a millionaire in 26 years by paying fully into a NISA

airfix Avatar
2y, 5m agoPosted 2 years, 5 months ago
Tax free income but can anyone save £15,000 a year?
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airfix Avatar
2y, 5m agoPosted 2 years, 5 months ago
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banned 5 Likes #1
"Become a millionaire by saving just £15,000 a year"

http://gifrific.com/wp-content/uploads/2013/04/leaving-now-grandpa-simpsons.gif
#2
KillFelix
"Become a millionaire by saving just £15,000 a year"

http://gifrific.com/wp-content/uploads/2013/04/leaving-now-grandpa-simpsons.gif

You are married now Felix, both earning? £7500 a year (£145 a week) each
banned#3
airfix
KillFelix
"Become a millionaire by saving just £15,000 a year"

http://gifrific.com/wp-content/uploads/2013/04/leaving-now-grandpa-simpsons.gif

You are married now Felix, both earning? £7500 a year (£145 a week) each

Not a chance lol
#4
KillFelix
airfix
KillFelix
"Become a millionaire by saving just £15,000 a year"

http://gifrific.com/wp-content/uploads/2013/04/leaving-now-grandpa-simpsons.gif

You are married now Felix, both earning? £7500 a year (£145 a week) each

Not a chance lol

You're probably right, it's a tax free scheme for the young rich.
banned#5
airfix
KillFelix
airfix
KillFelix
"Become a millionaire by saving just £15,000 a year"

http://gifrific.com/wp-content/uploads/2013/04/leaving-now-grandpa-simpsons.gif

You are married now Felix, both earning? £7500 a year (£145 a week) each

Not a chance lol

You're probably right, it's a tax free scheme for the young rich.

I can probably save about 1/3 of what's needed for this thing, and even that's at a push. You'd need 2 people earning £35,000+ with no kids to do this comfortably.
1 Like #6
Put the money into property either your own or a buy to let and I would expect you would make a better return.
#7
how does £15K x 26 = £1M?

interest rates are crap

property every time.

Made £300K in the last 10 years on my home. interest on the initial house value monetary amount would have been about £50K

Edited By: chocci on Jul 06, 2014 10:56
3 Likes #8
I have a NISA local by me but they are only good for bread, milk, fags and booze...
#9
This is just a scam to keep feeding the London financial monster and when it all goes bust there wont be anything left in your account. Oh and by the way the 80k guarantee is worthless as the country is already insolvent.

Oh but the economy is growing and the property market is booming you say, well the bond market is about to go bust unleashing the mother of all crashes oO
#10
'oh we're sorry, the initial investment wasn't what we thought and has been robbed by previous liblacon governerment.... however, I hear gold is a good investment.... ask Gordon brown.....'
#11
£15k allowance is very useful for a lot of people, but what's the point with such rubbish interest rates on NISA's?

When interest rates rise, then people will appreciate NISA's more. So (like donaldduck2 said) buying property is really the best investment at the moment.
banned#12
and then Labour will come along and impose a windfall tax on your efforts.
#13
chocci
how does £15K x 26 = £1M?

interest rates are crap

property every time.

Made £300K in the last 10 years on my home. interest on the initial house value monetary amount would have been about £50K


Once you have saved the 26 years of 15k, you go to a casino and choose a number on roulette
#14
Yay! Property! It's a never-ending source of free money! What could possibly go wrong? X)
#15
chocci
how does £15K x 26 = £1M?

interest rates are crap

property every time.

Made £300K in the last 10 years on my home. interest on the initial house value monetary amount would have been about £50K

assumption of 5 or so % compound interest
#16
brilly
chocci
how does £15K x 26 = £1M?

interest rates are crap

property every time.

Made £300K in the last 10 years on my home. interest on the initial house value monetary amount would have been about £50K
assumption of 5 or so % compound interest
good luck getting anywhere near 5% ;)

5% would grow to £858,371.99

Edited By: chocci on Jul 07, 2014 10:47
1 Like #17
Rubisco
Yay! Property! It's a never-ending source of free money! What could possibly go wrong? X)
in the long term, not much.
over 17 years, my £120,000 total investment is now £600,000 (plus free rent all that time ;) )

rent alone would have been more than £120K over 17 years



Edited By: chocci on Jul 07, 2014 10:49
#18
chocci
brilly
chocci
how does £15K x 26 = £1M?

interest rates are crap

property every time.

Made £300K in the last 10 years on my home. interest on the initial house value monetary amount would have been about £50K

assumption of 5 or so % compound interest

good luck getting anywhere near 5% ;)

5% would grow to £858,371.99

i didn't say you could get it, just explaining the figure ;)
1 Like #19
Rubisco
Yay! Property! It's a never-ending source of free money! What could possibly go wrong? X)
Well it's better than saving with these low interest rates.
1 Like #20
brilly
chocci
brilly
chocci
how does £15K x 26 = £1M?

interest rates are crap

property every time.

Made £300K in the last 10 years on my home. interest on the initial house value monetary amount would have been about £50K
assumption of 5 or so % compound interest
good luck getting anywhere near 5% ;)

5% would grow to £858,371.99
i didn't say you could get it, just explaining the figure ;)
makes the whole thread somewhat pointless then ;)
#21
chocci
Rubisco
Yay! Property! It's a never-ending source of free money! What could possibly go wrong? X)
in the long term, not much.
over 17 years, my £120,000 total investment is now £600,000 (plus free rent all that time ;) )

rent alone would have been more than £120K over 17 years



Can you lend me a fiver?
2 Likes #22
deeky
chocci
Rubisco
Yay! Property! It's a never-ending source of free money! What could possibly go wrong? X)
in the long term, not much.
over 17 years, my £120,000 total investment is now £600,000 (plus free rent all that time ;) )

rent alone would have been more than £120K over 17 years



Can you lend me a fiver?
at what interest rate? ;)
1 Like #23
chocci
brilly
chocci
brilly
chocci
how does £15K x 26 = £1M?

interest rates are crap

property every time.

Made £300K in the last 10 years on my home. interest on the initial house value monetary amount would have been about £50K

assumption of 5 or so % compound interest

good luck getting anywhere near 5% ;)

5% would grow to £858,371.99

i didn't say you could get it, just explaining the figure ;)

makes the whole thread somewhat pointless then ;)

well it was that from inception as didn't supply a link!
googling:
"Calculations by online wealth manager Nutmeg found that a saver making full use of the new £15,000 allowance every year from 2014 could build a nest egg of over £1m in just 26 years, assuming annual returns of 5 per cent (after fees) and an annual 2 per cent increase in the allowance. Under the old system, reaching £1m would have taken almost 30 years. But reaching this elusive goal requires serious discipline. Here are some of the top tips for becoming a Nisa millionaire."
blah blah IF basically but sounds reasonable enough
though its linked to stocks so its a 'could lose' type as well

property could also crash though i cant see it. not that i am an expert so who cares!

Edited By: brilly on Jul 07, 2014 15:45
#24
chocci
Rubisco
Yay! Property! It's a never-ending source of free money! What could possibly go wrong? X)
in the long term, not much.
over 17 years, my £120,000 total investment is now £600,000 (plus free rent all that time ;) )

rent alone would have been more than £120K over 17 years



But you need somewhere to live and unless you are going to downsize considerably you won't get the return. Also property needs money spent on it every few years.
#25
A better investment is Jewels, Diamonds more importantly...
#26
haritori
A better investment is Jewels, Diamonds more importantly...

You know diamonds aren't rare at all and their costs are artificially inflated by one company who control the trade of them all?
1 Like #27
sancho1983
haritori
A better investment is Jewels, Diamonds more importantly...

You know diamonds aren't rare at all and their costs are artificially inflated by one company who control the trade of them all?

I earn commission ;)
1 Like #28
haritori
sancho1983
haritori
A better investment is Jewels, Diamonds more importantly...

You know diamonds aren't rare at all and their costs are artificially inflated by one company who control the trade of them all?

I earn commission ;)

Haha, ok, gotcha ;)
#29
If anyone looked onto this properly instead of just assuming it was a cash isa you'd have realised it's a stocks and shares isa
#30
10111010101011
If anyone looked onto this properly instead of just assuming it was a cash isa you'd have realised it's a stocks and shares isa

course, you could have looked properly at #23 where i say that

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