Million Dollar Savings Calculator: How Long Do I Need to Save to Become a Millionaire?
This financial calculator will tell you how many years you will need to save in order to accumulate $1,000,000.
For example, if you’re planning to retire with $1,000,000, you're able to save or invest $400 a month and think you can achieve a 6% return on your money each year, enter "$400" as the Monthly Savings Amount and "6%" as the Annual Rate of Return. If you already have $20,000 saved up, enter "$20,000" as your Current Amount Saved.
|Current Amount Saved:|
|Monthly Savings Amount:|
|Annual Rate of Return (%):|
What it Means...
If you start with $20,000 and save or invest an additional $400 each month while earning 6.00% on your money, you will have one million dollars in 39.3 years.