ISAs and PEPs started in the 1990's (I seem to recall)
You could only pack away a few thousand pounds each yaer and lost of people thought why bother?
Well I've done not too badly but still nowhere near £1m - but getting there.
When I started I made £90 in my first year, save myself all of £18 in tax - not worth it is it.
Now I'm saving thousands in tax each year, but imagine if you had a million pounds or more in your IA at say 4% thats an income of £40,000 a year all tax feree.
If that came from an annuity or pension you woyuld be giveing HMRC £8,000 of that income.
Here's one of the articles from the Telegraph last week:
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