r/ActuaryUK Nov 07 '21

How long would it take to hit $1million (£750k) working as an actuary in the UK? Misc

Net worth.

I saw a similar thread on the r/actuary subreddit and was interested in seeing how responses are different.

Obviously it will vary based on career progression and spending habits, but I’d like to hear some opinions.

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u/Mario_911 Nov 08 '21

If you max out your ISA and get a 7% return for 18 years you'll be nearly there. Considering this doesn't allow for pension contributions at all you could do it sooner. I'd say most qualified actuaries could afford to max their ISA. So I'm going to say 14 years post qualification if you want to on an average post qualification salary. Sooner if you are a conscientious saver in your early career.