When will I be a millionaire?
Type your age, what you have saved, what you save each month and the yearly return you expect. The millionaire calculator shows the age at which your balance first reaches $1 million (or any goal), and how much to save each month to reach it by an age you pick.
- You reach the goal at age
- 56.1
Saving $1,000.00 a month at 7%, you put $338,000.00 toward $1,000,000.00, with $664,047.18 of growth.
- Years to go
- 26.1
- Months to go
- 313
- Your money
- $338,000.00
- Growth
- $664,047.18
- Save each month to reach it by your age
- $428.35
- Months
- 313
You reach the goal at age: 56.1. Saving $1,000.00 a month at 7%, you put $338,000.00 toward $1,000,000.00, with $664,047.18 of growth.
How do your savings and the growth build up?
What does each year look like?
The results are estimates for information only. They are not financial, tax, or legal advice. Check the numbers with your lender or a qualified professional before you decide. Terms of use
How to calculate
Works out the age at which your savings reach $1 million from what you have, what you save each month and a yearly return, and how much to save each month to get there by an age you choose.
Example with the default inputs (Your age 30, Saved and invested now $25,000.00, You save each month $1,000.00, Yearly return 7%, Goal $1,000,000.00, Reach it by age 65): Saving $1,000.00 a month at 7%, you put $338,000.00 toward $1,000,000.00, with $664,047.18 of growth.
Method: g = (1 + R)^(1/12) − 1; each month balance = balance × (1 + g) + deposit until it reaches the goal; age = age now + months ÷ 12. To reach it by age A: n = 12 × (A − age), deposit = (G − P(1 + g)^n) × g ÷ ((1 + g)^n − 1), or (G − P) ÷ n at 0%.
- The return stays the same every year, and deposits are made at the end of each month. Real returns go up and down.
- Amounts are not adjusted for inflation: $1 million in 25 years buys less than $1 million today.
- Taxes and fees are not taken out. This is an estimate for planning, not investment advice.
Worked examples
Each example is checked against the calculator on every build.
- Your age 30, Saved and invested now $25,000.00, You save each month $1,000.00, Yearly return 7%, Goal $1,000,000.00, Reach it by age 65 gives Months to go 313, You reach the goal at age 56.083333, Your money $338,000.00, Growth $664,047.18, Save each month to reach it by your age $428.35.Source: U.S. Securities and Exchange Commission, Investor.gov, Compound interest calculator and formula, https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator (retrieved 2026-10-03)
- Your age 30, Saved and invested now $0.00, You save each month $2,000.00, Yearly return 0%, Goal $1,000,000.00, Reach it by age 71 gives Months to go 500, You reach the goal at age 71.666667, Your money $1,000,000.00, Save each month to reach it by your age $2,032.52.
- Your age 40, Saved and invested now $100,000.00, You save each month $2,000.00, Yearly return 5%, Goal $1,000,000.00, Reach it by age 60 gives Months to go 228, You reach the goal at age 59, Save each month to reach it by your age $1,810.40.Source: Consumer Financial Protection Bureau, Regulation DD (Truth in Savings), 12 CFR 1030, Appendix A: annual percentage yield calculation, https://www.consumerfinance.gov/rules-policy/regulations/1030/a/ (retrieved 2026-10-03)
- Your age 60, Saved and invested now $0.00, You save each month $100.00, Yearly return 0%, Goal $1,000,000.00 gives Reached by age 100? Not by age 100, Your money $48,000.00.
- Your age 45, Saved and invested now $1,200,000.00, You save each month $0.00, Yearly return 5%, Goal $1,000,000.00 gives Months to go 0, You reach the goal at age 45.
How it works
The yearly return R becomes the monthly rate g = (1 + R)^(1/12) − 1. Starting from the balance you have now P, each month:
- growth = balance × g
- balance = balance + growth + the monthly saving D (added at the end of the month)
The months stop at the first month whose end balance is at or above the goal G, or at age 100 (12 × (100 − age) months).
- Months to go = that month count; 0 when P is already at or above G.
- You reach the goal at age = age + months ÷ 12; years to go = months ÷ 12.
- Your money = P + D × months; growth = the growth added up.
- If the goal is not reached by age 100, the page says Not by age 100 instead of an age.
Save each month to reach it by your age (when an age A is typed; it must be above your age): with n = 12 × (A − age),
D = (G − P(1 + g)^n) × g ÷ ((1 + g)^n − 1), or (G − P) ÷ n at 0%, and $0 when this is below 0.
Rules
- Age 15 to 99; savings and goal up to $10¹⁰ (goal at least $1); monthly saving up to $10⁸; return 0% to 30%; target age 16 to 100.
Assumptions
- The return stays the same; deposits at the end of each month; no inflation, taxes or fees. This is an estimate, not advice.
Worked examples by hand
The default: age 30, $25,000, $1,000 a month at 7%. g = 1.07^(1/12) − 1 = 0.0056541. Month by month the balance first passes $1,000,000 in month 313 ($1,002,047.18), at age 30 + 313 ÷ 12 = 56.1. Your money = 25,000 + 313,000 = $338,000; growth = $664,047.18. To reach it by 65 (n = 420): D = (1,000,000 − 25,000 × 1.07³⁵) × g ÷ (1.07³⁵ − 1) = $428.35.
Age 30, $0, $2,000 a month at 0%. 1,000,000 ÷ 2,000 = 500 months, age 71.7. By 71 (492 months): 1,000,000 ÷ 492 = $2,032.52.
Age 40, $100,000, $2,000 a month at 5%. The balance passes $1,000,000 in month 228, at age 59. By 60 (n = 240): $1,810.40 a month.
Age 60, $0, $100 a month at 0%. 480 months to age 100 give only $48,000: Not by age 100.
Age 45 with $1,200,000. Already past the goal: 0 months, age 45.
Other questions people ask
How long does it take to save $1 million?
It depends on what you start with, what you add and the return. $25,000 now plus $1,000 a month at 7% a year reaches $1 million after 313 months, about 26 years; with no return, $2,000 a month takes 500 months.
How much do I need to save each month to be a millionaire by 65?
At 30 with $25,000 saved and a 7% return, about $428 a month reaches $1 million at 65. The page uses the future value of monthly deposits solved for the deposit: D = (G − P(1 + g)^n) × g ÷ ((1 + g)^n − 1).
How does the calculator compound the return?
The yearly return becomes a monthly rate g = (1 + R)^(1/12) − 1, so 12 months of growth equal exactly R, and each deposit is added at the end of the month. This is the same rule as the savings calculator.
Is $1 million in the future worth $1 million today?
No. The page does not adjust for inflation, so $1 million in 25 years buys less than it does now. To plan in today’s money, type a return after inflation (for example 7% − 3% inflation is roughly 4%).
What return should I use?
Use a rate you can expect from where the money is: a savings account’s APY, or a cautious long-term return for investments. Returns are never guaranteed, so try a lower rate too.
Does it include taxes and fees?
No. Tax on interest or gains and investment fees lower the growth. Use the expense ratio calculator to see what fund fees cost.