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Calculator Preferences
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.
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Age now:Current age:Current age:Current age:

Current age:

Enter your current age. The calculator will use your current age to estimate how old you will be when you reach your 1 million dollar savings goal.

Target age:Target age:Target age for achieving 1 million:Target age for accumulating 1 million:

Target age for accumulating 1 million:

Enter the age you would like would like to have 1 million dollars in your account by (retire age, etc.). If the calculated results don't show you becoming a millionaire by your target age, the calculator will tell you how much you would need to deposit in order to hit your target.

Balance:Starting balance:Starting balance:Current amount saved:

Current amount saved:

Enter the current balance of your savings account, or the initial deposit that is not part of the periodic deposits (without dollar sign or commas). If you have no current savings, enter a zero.

Earn rate:Rate of return:Percent rate of return:Percentage rate of return:

Percentage rate of return:

Enter the average percentage rate of return you expect to earn on your investments. Enter as a percentage but without the percent sign (for .02 or 2%, enter 2).

Dep freq:Deposit interval:Deposit frequency:Deposit frequency:

Deposit frequency:

Select the frequency at which you plan to make deposits to your savings account.

Dep amt:Deposit amount:Deposit amount:Deposit amount:

Deposit amount:

Enter the periodic deposit amount for the selected deposit frequency (without dollar sign or commas). Note that the calculator bases its calculations on 360-day years to accommodate daily compounding for monthly, semi-monthly, quarterly, and annual deposits, so please allow for weekly and bi-weekly annual deposit differences (52 weeks and 26 bi-weeks each add up to 364 days).

Years to mil:Years to 1 million:Years to 1 million:Years until savings reaches 1 million:

Years until savings reaches 1 million:

Based on your entries, this is number of years it will take until your savings reaches 1 million dollars.

Target FV:Target age value:Value of savings at target age:Value of savings account at target age:

Value of savings account at target age:

Based on your entries, this how much your savings account will have grown to by the time you reach the target age you entered. Note that if your savings hits the 1 million mark before your target age, the result on this line will be "N/A".

Dep needed:Deposit needed:Deposit amount needed to hit target:Deposit amount needed to hit 1 million by target age:

Deposit amount needed to hit 1 million by target age:

Based on your entries, this is the amount of the periodic deposit you would need to make in order for your savings to reach 1 million by your target age. Note that if your savings hits the 1 million mark before your target age, the result on this line will be "N/A".

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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Tip

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

Favorites

Add or remove this page to/from my favorites.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.