When Will I Be a Millionaire?
See when you’ll hit $1 million — or any target you choose. Enter your age, what you have invested now, how much you add each month, and an expected return, and the calculator shows the age you’ll get there.
It also works backward: pick the age you want to reach the goal, and see the monthly investment it takes. Small increases early make a big difference, because more of the final balance comes from growth.
Calculator
You’ll reach $1.0M
at age 55
in 25y 8m
- Monthly needed to hit it by 55
- $1,058
- Contributed by then
- $333,000
To get there by 55, invest about $58 more a month.
Assumes a constant average return compounded monthly, in nominal dollars. A million dollars in 30 years buys about what $412,000 does today at 3% inflation — use the investment calculator for today’s-dollar figures.
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Calculation Formulas
Balance(next) = Balance × (1 + r ÷ 12) + monthly investment.
The monthly contribution that reaches the goal in n months.
Example:
$25,000 at 30, 7%, by 55 → about $1,058 a month.
Key Figures
| Figure | Value | Description |
|---|---|---|
| Compounding | Monthly | Constant average return. |
Note: Results are estimates for planning purposes. Rates, fees, taxes, and insurance vary by lender and location — confirm exact figures with a licensed professional before making financial decisions.
Standards & Sources
Last verified: October 2026
- Time-value-of-money math
Standard future-value and annuity formulas, the same as our investment and savings goal calculators.
- Nominal dollars
Results aren’t adjusted for inflation; use the investment calculator for today’s-dollar values.
How to Use This Calculator
- Enter your age and the amount you have saved and invested now.
- Enter your monthly investment and expected annual return.
- Set your goal and the age you’d like to reach it.
- Read the age you’ll reach the goal and the monthly amount needed to hit your target age.
Frequently Asked Questions
How long does it take to save $1 million?
Starting from zero at a 7% average return, investing $500 a month takes about 36 years and $1,000 a month about 28 years. Starting with $25,000 and investing $1,000 a month takes about 26 years.
How much do I need to invest each month to be a millionaire by 55?
From age 30 with $25,000 already invested and a 7% return, about $1,060 a month gets you to $1 million by 55.
Is $1 million enough to retire?
Using the 4% guideline, $1 million supports about $40,000 a year in withdrawals, rising with inflation, plus Social Security. Whether that’s enough depends on your spending — and $1 million decades from now buys less than today.
What return should I assume?
Many planners use 6% to 8% for a stock-heavy portfolio over long periods. Returns vary widely year to year, so try a lower rate to see a conservative timeline.
Guides to go with this calculator
What Is the Average Stock Market Return?
You’ll hear “the market returns 10% a year.” It’s true on average — and misleading if you stop there. Here’s the real number, the inflation-adjusted number, and how to plan around both.
Rule of 72: How to Double Your Money (With Table)
Divide 72 by your annual return and you get the years it takes to double your money. Here’s the formula, a ready-made table, and where the shortcut breaks down.
What Is a Good ROI? How to Calculate Your Return
ROI is simple to calculate and easy to misread. Here’s the formula, what a “good” return looks like, and the one adjustment that makes two investments actually comparable.
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