Isa Whitney, brother of the late Elias Whitney, D.D., Principal of the Theological College of St.
I was Isa Whitney's medical adviser, and as such I had influence over him.
The table (bottom left) shows how much millennials need to start saving per month to become an
ISA millionaire by the time they are 65, according to AJ Bell's analysis.
Most banks and building societies offer Cash
ISAs, ranging from easy access accounts where you can get at your money quickly if needed, through to fixed-rate
ISA bonds where you lock your money away for a term of between one and five years in return for a higher interest rate.
ISAs have traditionally had advantages over other types of savings accounts, as money in them is ring-fenced from tax.
"In the past, one-year fixed
Isas seem to have been favoured among savers, allowing them to revisit their investments and look at fresh options at the start of each
Isa season.
This isn't good news for people saving in cash
ISAs, as their returns are also likely to be low.
THERE are cash, as well as stocks and shares versions of Junior
Isas.
"
ISAs aren't right for everyone, but I believe for about one-third of students, it's a better way to fund college," he says.
Only platforms with FCA authorisation and
ISA manager status can offer IF
ISAs and at the time of their launch in April only eight relatively small platforms offered them as other platforms were still awaiting authorisation.
Just under a third of UK adults (31 per cent) saved or invested in an
ISA in the current tax year and of those, more than a fifth (22 per cent) have saved or invested Au1,000 or less with just a few weeks to go until the end of the tax year, according to new research carried out on behalf of AXA.
Cash
ISAs carry no risk to capital but offer low returns, whereas stocks and shares
ISAs offer potentially higher returns but they are at the mercy of stock markets.