Millionaire Calculator (Time to $1M)
Enter your current savings, monthly contribution, and expected return to estimate how long until you reach $1 million or any target.
Time to your target
What you have invested today. Use 0 if none.
What you add each month, from $0 through $10 million.
A long-run average return, from -20% through 40%.
At this pace you cross $1,000,000 on schedule.
- Months to target
- 287 months
- Target amount
- $1,000,000
How the timeline is calculated
The calculator steps forward month by month. Each month the balance earns one month of growth at your expected annual return, then your monthly contribution is added. The first month the balance reaches the target is reported as the time to your goal, up to 100 years.
Balanceₙ = Balanceₙ₋₁ × (1 + r/12) + Contribution- Balance
- Running total each month
- r
- Expected annual return, as a decimal
- Contribution
- Amount added each month
$50,000 saved, $1,000 a month, 7% return
Starting with $50,000, adding $1,000 each month, and earning a 7% annual return, the balance crosses $1,000,000 after 287 months — about 23.9 years. Raising the contribution or the return shortens that timeline.
This is an educational calculation based only on the values you provide, and it is not financial advice.
What this calculator assumes
- Contributions are added at the end of each month.
- The expected return is constant every month.
- No fees, taxes, or inflation are modeled — the target is in nominal dollars.
- Timelines longer than 100 years are reported as not reached.
Millionaire timeline FAQ
Why does a small rate change matter so much?
Growth compounds over many years, so even a one-point change in the expected return can move your target date by several years.
Can I target an amount other than $1 million?
Yes. Open advanced assumptions to set any target amount, and the timeline updates to reach that goal instead.
Sources and review notes
- U.S. Securities and Exchange Commission, Investor.gov — compound interest
- Financial Consumer Agency of Canada (canada.ca) — savings and investments
Methodology last checked Jul 14, 2026. Formula implementation is covered by deterministic unit tests. No financial professional review is claimed yet.