How long does it take to become an ISA millionaire?

Paying in the full £20,000 a year (£1,666 a month) to a stocks and shares ISA growing at 7% a year after 0.5% fees, it takes about 23 years to pass £1 million, reaching about £1,026,450. At 5% growth it takes about 27 years. Returns aren't guaranteed.

About £459,816 over 23 years. The rest is tax-free investment growth.

It's much harder. Cash ISA rates are usually lower than long-term stock market returns, and from April 2027 under-65s can only put £12,000 a year into cash ISAs. Most ISA millionaires have built their wealth in stocks and shares ISAs over decades.

It takes discipline and time: paying in the maximum every year for over two decades, staying invested through market falls and keeping fees low. Starting earlier makes a big difference, because the growth compounds for longer.

At 7% growth after 0.5% fees, about £950 a month for 30 years, which is well within the £20,000 allowance. At 5% it would take about £1,350 a month.

Yes. Starting with £100,000 already invested and then maxing out the allowance at 7%, you could pass £1 million in about 19 years instead of 23.