Hargreaves Lansdown reported a significant increase in ISA millionaires, with 1,322 individuals holding over £1 million in their ISAs by December. This represents a 14% rise in just six months, marking a substantial growth from only 168 ISA millionaires seven years ago. These investors, averaging 72 years in age, typically favor a conservative, long-term investment strategy, focusing on blue-chip UK companies and diversified funds. Analysts note this approach focuses on steady accumulation rather than speculative trading, indicating a mature investment strategy that prefers stability and sustainable returns over riskier ventures.
Some people get into investment in the hope of getting rich quick, but the vast majority of ISA millionaires have built a fortune through the far more reliable approach of getting rich slow.
They don't necessarily take enormous risks: many consistently invest as much as possible of their annual allowance, in a diverse and balanced portfolio, every year, for decades.
It means most of them aren't speculating. They're not in a hurry to trade them regularly either as, while most ISA millionaires traded in 2024, this has tended to be infrequent.
This reflects that as investors mature, they become more value-oriented and look for sustainable returns through stable investments.
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