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InvestEngine research shows the number of ISA millionaires in the UK has surged to 4,850, a significant increase from 450 in 2016, with predictions of further growth. AJ Bell’s analysis suggests that with consistent monthly investments and compound interest, reaching multi-millionaire status in a tax-free stocks and shares ISA is achievable in a shorter timeframe. Hargreaves Lansdown notes that investors of all ages can benefit from compound interest, with some even reaching millionaire status beyond age 100, emphasizing the importance of early and consistent investing for long-term wealth growth.
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