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When will you be a Millionaire?

“The most powerful force in the universe is compound interest.”

- Albert Einstein

Everyone has the capability to become a millionaire. Really, its possible. To prove it to you we have built this millionaire calculator.

Could you save just $1 a day? You bet! If you save $1 a day at 10% interest (average annual stock market return) you will have a million dollar in just 56 years. If you play with the calculator a little you will discover that by saving just a little more each day you can reduce the time it takes to reach your goal significantly.

This millionaire calculator shows you how long it will take you to become a millionaire. Fill in the following information and click the Calculate button for results. The more you invest monthly and the more you already have invested, the less time you need to become a millionaire.

Amount Currently Invested: (How much do you have right now to invest?)
Monthly Investment: (The amount you will contribute each month.)
Expected Rate of Return: (This is the annual rate of return you expect.)
Millionaire Target Age: (The age you want to become a millionaire.)
Current Age: (Your current age in years.)
 

You will be a Millionaire at age:

How much you need to save each month to accumulate a million dollars at target age:

Download as Excel file

Disclaimer: The millionaire calculator does not show the effect of capital gains, inflation or taxes on your investment. The calculator is made available to you as self-help tool for your independent use and is not intended to provide investment advice. We can not and do not guarantee its applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes.
 

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