Millionaire Calculator
See how many years until you reach your target with savings and growth.
When Will I Be a Millionaire?
This calculator answers a simple but motivating question: how many years until you hit a target amount? (We default to $1 million, but you can enter any goal.) It uses your current savings, how much you add each month, and an assumed annual rate of return. The power of compound growth means that over time, a large share of your balance comes from investment returns, not just from new contributions. Small increases in your savings rate or return assumption can noticeably shorten the time to your goal.
What rate of return should I use?
For long-term stock-heavy portfolios, many people use 6–8% after inflation (or 8–10% nominal). Being conservative (e.g., 5–6%) avoids disappointment if returns are lower; being aggressive can make the timeline look shorter than reality. Our calculator does not adjust for inflation—so “$1 million” in 20 years will have less purchasing power than today. For inflation-aware planning, use our inflation calculator and savings growth calculator.
Millionaire as a milestone
Hitting $1 million (or another target) is a psychological and financial milestone. In retirement planning, what matters more is whether your assets can support your desired spending—often framed as the 4% rule or a withdrawal rate. Use our retirement income calculator and retirement calculator to see how your path to a million (or more) translates into retirement security.
Millionaire Calculator FAQ
It depends on your starting balance, monthly contribution, and assumed return. Our calculator solves for the number of years until you reach your target (e.g., $1 million). Try different contribution amounts and return assumptions to see how they change the timeline.
Increase monthly contributions and/or assume a higher return. The calculator will show how many years it actually takes; if it is more than 10, raise the monthly amount or lower the target. Our savings growth calculator can also show year-by-year progress.
The calculator projects a nominal future balance (today’s dollars growing at your assumed rate). It does not subtract inflation, so $1 million in 20 years will buy less than $1 million today. For purchasing power over time, use our inflation calculator.
Plan Your Full Retirement
Use our retirement calculator for Monte Carlo simulations and country-specific planning.
Try Retirement Calculator