Millionaire Calculator
Calculate millionaire from your own entered figures.
Loading calculator…
Currency: Amounts are calculated in the currency you select; this site does not convert between currencies and does not use live exchange rates.
What this tool does
Calculate millionaire from your own entered figures. A constant return is assumed with no taxes, fees or inflation, so the $1,000,000 is in nominal future dollars, not today's purchasing power.
How to use the Millionaire Calculator
- Enter or select current savings / investments.
- Enter or select monthly contribution.
- Enter or select expected annual return (%).
- Read the calculated result; change any measurement to compare alternatives.
Formula
balance grows monthly at i = (1 + annual return)^(1/12) − 1 with end-of-month contributions until the balance reaches $1,000,000 (simulated, up to 100 years)
- current
- Current savings / investments
- monthly
- Monthly contribution
- rate
- Expected annual return (%)
A constant return is assumed with no taxes, fees or inflation, so the $1,000,000 is in nominal future dollars, not today's purchasing power.
Worked example
For millionaire calculator, the following measurements illustrate the exact method: Current savings / investments: 10000; Monthly contribution: 500; Expected annual return (%): 7.
Inputs
- Current savings / investments10000
- Monthly contribution500
- Expected annual return (%)7
Result
- Years to $1,000,00035.58
- Months to $1,000,000427
- Total you will have contributed$223,500.00
Results explained
- Years to $1,000,000
- Years to $1,000,000 from the formula above. A constant return is assumed with no taxes, fees or inflation, so the $1,000,000 is in nominal future dollars, not today's purchasing power.
- Months to $1,000,000
- Months to $1,000,000 from the formula above. A constant return is assumed with no taxes, fees or inflation, so the $1,000,000 is in nominal future dollars, not today's purchasing power.
- Total you will have contributed
- Total you will have contributed from the formula above. A constant return is assumed with no taxes, fees or inflation, so the $1,000,000 is in nominal future dollars, not today's purchasing power.
Frequently asked questions
balance grows monthly at i = (1 + annual return)^(1/12) − 1 with end-of-month contributions until the balance reaches $1,000,000 (simulated, up to 100 years)
A constant return is assumed with no taxes, fees or inflation, so the $1,000,000 is in nominal future dollars, not today's purchasing power.
No. All numbers are entered by you or come from the dated reference table shown on this page; calculations run locally.
This is an estimate, not financial, tax or legal advice. Verify the inputs and output with official sources and a qualified professional.
Check period consistency, currency, percentage inputs and the assumptions: A constant return is assumed with no taxes, fees or inflation, so the $1,000,000 is in nominal future dollars, not today's purchasing power.