Top stocks for 2021: 2 cheap UK shares I think could make me an ISA millionaire!

Want to get rich during the new bull market? I reckon these cheap UK shares could soar in value in 2021 and keep rising through the roof!

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I don’t care about difficult economic conditions across the world. I’ve continued to buy UK shares for my ISA this year. And I plan to keep doing so in 2021 too.

Okay, the outlook for the global economy remains up in the air. But it did following the 2008/2009 financial crisis too. Back then, the banking system teetered on the brink of collapse, several eurozone nations faced bankruptcy, and broader economic conditions all over the world deteriorated.

Yet those long-term investors who were brave enough to stay the course made a fortune during the bull market that followed. Hundreds (if not thousands) of Stocks and Shares ISA investors even made millions. This is why I’m not going to stop buying for my own ISA in spite of Covid-19, Brexit, and the threat of trade wars elsewhere.

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History shows us that global share markets always recover strongly following market crashes. And brave investors who keep buying stand to make a killing in the process. This is how those aforementioned ISA millionaires set themselves up for life during the last decade.

2 UK shares on my ISA watchlist

Here are two top-quality stocks I’m thinking of buying for my own shares portfolio. I think they could rocket in value during the eventual bull market:

#1: BAE Systems

History shows us that defence budgets remain largely stable during economic upturns and downturns. If anything, I reckon the short-to-medium-term outlook for arms budgets is stronger today than it’s been in more recent downturns. The geopolitical environment is more dangerous than it’s been for decades, as the recent cyberattack on Western governments shows.

However, BAE Systems’ sinking share price in 2020 doesn’t reflect this fact. The good news is this provides UK share investors with a brilliant dip-buying opportunity. I reckon this FTSE 100 defence giant’s share price will rocket in the next decade. A low price-to-earnings (P/E) ratio of 10 times and a 5% dividend yield as of today provides an attractive point for value investors to dive in at too.

#2: Ascential

Media companies are some of the fastest stocks to benefit from an upswing in the economic cycle. And this could make Ascential a blockbuster stock to buy for 2021. It’s a phenomenon which City brokers expect to deliver a triple-digit-percentage improvement in annual profits at the UK share.

Don’t think the exhibitions and information services specialist is just a terrific buy for next year. As I say, I buy UK shares with a view to making big returns over the long term. And Ascential has recently made a serious M&A moves to bolster its profit-making opportunities.

This month it bought China’s Hangzhou Duozhun Data Technology and Intellibrand of Brazil to boost its position in emerging markets as well as e-commerce. This stock trades on a forward price-to-earnings growth (PEG) ratio of 0.1 today. And this makes it an absolute steal.

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Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. 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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Inflation recently hit 40-year highs… the ‘cost of living crisis’ rumbles on… the prospect of a new Cold War with Russia and China looms large, while the global economy could be teetering on the brink of recession.

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