Want to make a million? Investing £295 a month in cheap UK shares in an ISA could do it!

Fancy making a million with UK shares? It might not be as hard as you think. I’m not going to suggest it’s easy as pie. You need to be dedicated to regularly investing. You need to take the time to draw up a sound investing strategy. And you need to be able to save a decent amount of cash to invest in UK shares.

© Provided by The Motley Fool The UK national flag in front of Canary Wharf skyscrapers where professionals trade shares for a living.

History shows us that long-term investors enjoy an average yearly return of 8-10%. This means those who are able to buy UK shares regularly and hold them for the long haul can make serious profits on their cash.

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Indeed, someone aged 30 who invests £295 a month can expect to have made between £632,057 and £1,002,643 by the time they reach 65. The large number of Britons who have made millions in products like Stocks and Shares ISAs in recent years is testament to the wealth-building qualities of UK shares.

Buying bargain-basement UK shares

There aren’t that many dip buyers out there looking for bargains following the 2020 stock market crash. It’s why the FTSE 100 and FTSE 250 remain around a fifth lower than they were at the start of the year. This smacks of a wasted opportunity, in my book. There’s a sea of top-quality UK shares trading at rock-bottom prices that investors can load up on today.

XPS Pensions Group is one brilliant bargain that’s on my watchlist. It trades on a forward price-to-earnings (P/E) ratio of 13 times and carries a mighty 5.3% dividend yield too. I like this UK share because it’s a terrific play on Britain’s changing demographic profile. A rapidly-ageing population is driving profits skywards at the pension consultancy specialist.

What’s more, the business stands to gain from the biggest changes to pension regulators for many years as government boosts protection for holders of defined benefits pension schemes. I also like XPS Pensions’ plan to exploit this bright landscape through expansion.

Value investors should pay Devro very close attention too. This UK share also carries a forward dividend yield of 5.9%. Its P/E ratio for 2020 also sits at a bargain-basement 11 times. The sausage casings maker can expect profits to keep rising despite the global economic downturn as demand for its products increases, driven by strong offtake in emerging markets. A recent report from Market Reports World suggests the sausage skins market will rise at a compound annual growth rate of 4% through to 2023.

A helping hand for aspiring millionaires!

This is just a taster of the many top-class UK shares available for value investors to buy today. And The Motley Fool’s epic library of free special reports can help you find even more. So do some research and get investing today, I say. You could get seriously rich and possibly even make a million.

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Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Devro. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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