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Million CalcMillionaire CalcMillionaire CalculatorMillionaire Calculator
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Important! This calculator was added so you could preview the Site Redesign I am working on. This design will combine the mobile and desktop versions into a single version that I hope will accommodate any screen size.

Please use the feedback form beneath the calculator to let me know what you think (or use the contact form).

Millionaire Calculator Sign

Millionaire Calculator

This calculator will calculate the amount of time it will take to save up 1 million dollars. This includes your age and the month and year you will reach your goal. The Think tab includes:

  • Is becoming a millionaire easy?
  • Will the sacrifices be worth it?
  • Chasing emotional versus monetary wealth.
  • 4 steps to pursuing emotional wealth.
Data record: None
Age now:Current age:Current age:Current age:
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Target age:Target age:Target age for achieving 1 million:Target age for accumulating 1 million:
No text
Balance:Starting balance:Starting balance:Current amount saved:
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Earn rate:Rate of return:Percent rate of return:Percentage rate of return:
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Dep freq:Deposit interval:Deposit frequency:Deposit frequency:
Dep amt:Deposit amount:Deposit amount:Deposit amount:
No text
Calculate MillionCalculate Millionaire StatsCalculate Millionaire StatsCalculate When You Will Be A Millionaire
Years to mil:Years to 1 million:Years to 1 million:Years until savings reaches 1 million:
Target FV:Target age value:Value of savings at target age:Value of savings account at target age:
Dep needed:Deposit needed:Deposit amount needed to hit target:Deposit amount needed to hit 1 million by target age:
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My Notes:

Sorry! The Save functions are bonus features reserved for those who allow ads to display on the page.

If you would like to use the Save features, please disable ad blocking for this website and refresh the page. Or you can choose to subscribe to the Ad-Free Member Version of the site.

Instructions

How to use the Millionaire Calculator

Step #1:

Enter your current age.

Step #2:

Enter the age you wish to become a millionaire by (retirement age, etc.).

Step #3:

Enter the amount you currently have saved toward becoming a millionaire. If none, enter 0 or leave blank.

Step #4:

Enter the average percentage rate of return you expect to earn on your savings.

Step #5:

Select the deposit frequency (how often you will be making a deposit to the account).

Step #6:

Enter the amount you plan to deposit at the selected frequency.

Step #7:

Click the "Calculate MillionCalculate Millionaire StatsCalculate Millionaire StatsCalculate When You Will Be A Millionaire" button. This will display the future value at your target age, the years it will take to become a millionaire, and a year-by-year savings growth chart.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

Glossary

Fields, Terms, and Definitions.

Compound interest:

Interest that is not only earned on the amounts you deposit, but also on the previous interest the account has earned (earning interest on interest paid).

Reset button:

Clicking the "Reset" button will restore the calculator to its default settings.

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