See exactly how long it takes to reach $1,000,000 (or any goal) based on your savings, monthly investing and expected return — with a growth chart and the date you hit your number.
Time to your goal • Growth chart
A growth chart shows how interest snowballs — and how much of your million is growth vs. contributions.
Aim for $1M or set your own number, and instantly see the date and age you reach it.
All math runs in your browser — your finances are never uploaded.
Becoming a millionaire is less about a huge salary and more about time, consistency and compound growth. This calculator projects your balance forward month by month — adding your contribution and applying your expected return — until it crosses your goal, so you can see exactly how many years it takes and the date you get there.
The power of compounding. Early on, most of your balance is the money you put in. But as returns earn returns, growth accelerates: with a 7% annual return, money roughly doubles every ten years (the "Rule of 72" — 72 ÷ 7 ≈ 10). That is why starting early matters so much. Investing $500 a month at 7% grows to about $1 million in roughly 40 years from zero — but bump it to $1,000 a month and you cut that to about 30 years.
What return should I use? The long-run US stock market has returned about 10% per year before inflation, or roughly 7% after. Using the inflation-adjusted figure (≈7%) gives a result in today's dollars, which is the most realistic way to plan. More conservative savers might model 5–6%; this is an estimate, not a guarantee — real markets rise and fall.
Ways to get there faster: increase your monthly contribution (especially with raises), capture any employer 401(k) match (it is free money), use tax-advantaged accounts like a Roth IRA or 401(k), keep investment fees low with index funds, and avoid pulling money out early. This tool is for educational planning and is not financial advice — consider speaking with a licensed advisor about your situation.
Reaching a million is a future value problem solved for the payment, and the answer is dominated by time rather than by the amount saved. Because compounding is exponential, each additional year of contributions does more work than the last, so the required monthly figure falls steeply as the horizon lengthens. Two adjustments make the target honest: inflation means a million in thirty years is not a million today, so a real return should be used if you want the answer in current purchasing power; and taxes reduce the effective return in a taxable account.
PMT = Target × r ÷ [ (1 + r)^n − 1 ]With an existing balance: PMT = (Target − P(1+r)^n) × r ÷ [(1+r)^n − 1]Real target = $1,000,000 × (1 + inflation)^n to keep purchasing powerwhere:
Assumptions: Assumes a constant return and uninterrupted contributions. In a taxable account, dividends and realised gains reduce the effective compounding rate; tax-advantaged accounts avoid this.
Solve for the monthly contribution across three time horizons.
Result$819.69/month over 30 years — or $1,919.66 over 20
Starting ten years earlier more than halves the required contribution and cuts the total you must supply by a third. Adjusted for 2.5% inflation, a million in 30 years has the purchasing power of about $477,000 today — worth targeting $2,000,000 if you want a real million.