Isas shine across the generations  - Money

This week’s edition of the FT Money Show includes everything you ever wanted to know about individual savings accounts, as the tax-friendly savings mark 20 years in existence.

FT Money reporter Kate Beioley explains how millennials can become Isa millionaires. “If someone started saving aged 22 into a Lisa, putting aside just under £250 a month which they would then pay into a normal stocks and shares Isa once they’d hit that limit, they could be sitting on a pot worth just over £1m by aged 65,” she says.

Next up, Moira O’Neill, head of personal finance at Interactive Investor, describes how to begin investing in the stock market. She says: “If you’re starting with a relatively small amount of money as a beginner, I would start with a tracker fund. This is something that’s going to deliver the average returns of the stock market.”

Finally, James Max, FT Rich People’s Problems columnist, reveals what it’s like to work in an investment bank. “If you haven’t trained and haven’t done the analyst programme in an investment bank, you are what’s known as a lateral hire, which means that you’re being taken because of your expertise and market knowledge in another sector and then you’ll be schooled in investment banks and what they do and that means you’ll be interviewed by more people. In my case it was 18 people.”

The FT Money Show podcast is released at 6am every Thursday, in time for your morning commute. To subscribe and download, go to iTunes, Stitcher or your usual podcast provider and search for “FT Money Show”.

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