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Anyone can be a millionaire says Adam Smith Institute

Even the average person in Britain could become a millionaire when the retire according to a report from right wing think-tank the Adam Smith Institute.


The report entitled &#39The Millionaire Fund&#39 says the average wage in Britain is currently £20,000 a year.


If 12 per cent of this income were invested in a pension, the Institute has calculated by assuming a growth rate of 2.25 per cent a year, in 43 years the investor could retire as a millionaire.


The report says: &#34On a pension scheme such as this, a person on the national average wage could be a millionaire before retirement. If they began at 20 they would be a millionaire by 63.


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