Millionaire Calculator
Updated on 22 Oct 2026 · Checked by Aotob
Saving $800 a month at 7%, you reach $1,000,000 in 28 years 5 months.
You’d be 58, having put in $292,800.
Time to $1,000,000
28 years 5 months
A million in 30 years won’t buy what it does now: at 3% inflation it’s worth about 40% of today’s money. Starting earlier matters more than saving a little more later.
Show the working
Balance grows by 7% ÷ 12 each month, plus 800
20,000 → 1,000,000 after 341 months
Balance against money put in
By monthly saving
| Monthly | Time | Age |
|---|---|---|
| 400 | 35 years 9 months | 66 |
| 800 | 28 years 5 months | 58 |
| 1,200 | 24 years 1 month | 54 |
| 1,600 | 21 years | 51 |
| 2,400 | 17 years | 47 |
Questions people ask
How long does it take to become a millionaire?
Saving $500 a month at 7% takes about 38 years from zero; $1,500 a month takes about 24. Starting with savings or earlier shortens it a lot.
What return should I use?
Long-run stock market returns have averaged around 7% a year after inflation in the US, less elsewhere. Use 4% to 6% to be cautious.
Is a million enough to retire?
At a 4% withdrawal rate it gives about 40,000 a year. Check with the FIRE calculator.
Updated 22 Oct 2026Source: Published government rules and typical costs, checked October 2026Checked by AotobSteady return each year, before tax.Report an issue