Find out how long it will take you to reach $1,000,000. Adjust your starting savings, monthly contributions, and expected return rate to see your path to seven figures.
Once you sign up, your accounts, income, expenses, and goals update these numbers automatically.
Becoming a millionaire is a mathematical certainty for most consistent investors given enough time. Investing $500 per month at 8% returns reaches $1 million in about 30 years. Investing $1,500 per month at the same rate gets there in about 20 years. The key variables are contribution amount, return rate, and time.
Warren Buffett has said the first $100,000 is the hardest. Early on, your contributions do most of the heavy lifting. But once your portfolio reaches $100,000+, compound returns start to meaningfully accelerate growth. The second $100,000 comes faster than the first, and the tenth faster still.
Studies of self-made millionaires show common traits: they live below their means, invest consistently, avoid high-interest debt, and focus on increasing income over time. The median millionaire doesn't drive a luxury car — they prioritize wealth building over displaying wealth.
This calculator projects your path to $1,000,000 by compounding your current savings with monthly contributions at your chosen return rate. It calculates the month your balance crosses the $1M mark, showing you exactly when you'll reach seven figures based on your current trajectory.
Starting with $20,000, contributing $2,500/month at 8% return: you'd reach $1,000,000 in approximately 18 years. The first $100,000 takes about 3 years, but the last $100,000 (from $900K to $1M) takes only about 8 months — that's the power of compounding at scale.
Try the scenario where you increase contributions by $500/month — you'll often find it shaves 3-5 years off the timeline, which is a powerful motivator.
If $1M feels far away, set a milestone at $100,000 first. Once you reach it, compound growth starts doing meaningful heavy lifting alongside your contributions.
Remember that $1M in future dollars has less purchasing power than $1M today. For a true "today's dollars" projection, use a return rate 2-3% lower than nominal (e.g., 5% instead of 8%).
Focus on the savings gap (income minus expenses), not just income. Someone earning $60K and saving $2K/month reaches $1M faster than someone earning $150K and saving $1K/month.