Millionaire By Age Calculator
Find the exact monthly amount you must invest to hit $1,000,000 (or any target) by 30, 40 or 50 — given what you have saved already.
How it works
Future value of current savings = have × (1 + r)^n · Monthly = (goal − FV) × r ÷ ((1 + r)^n − 1), r = annual return ÷ 12, n = months
Reaching a round number like a million is a future-value problem in two parts. First, whatever you have already invested keeps compounding on its own and covers part of the goal. The remaining gap is then filled by a stream of equal monthly contributions, and the required payment is the ordinary-annuity formula solved for the payment. The younger your target age, the fewer compounding years you have, so the monthly figure rises steeply.
Worked example
A 30-year-old with $20,000 invested aiming for $1,000,000 by 50 at 7%: the $20,000 grows to about $80,600 over 20 years, leaving roughly $919,000 to fund. At a 7% monthly rate that requires about $1,766 a month.
Frequently asked questions
Why does hitting the goal by 30 cost so much more than by 50?
Compounding rewards time. With only a handful of years until 30, contributions have almost no time to grow, so nearly the whole target must come from your own deposits. Stretching to 50 lets returns do most of the heavy lifting.
Is the million in today’s dollars?
No — this is a nominal target. Inflation erodes what a million buys, so a million in 20–30 years will feel more like a few hundred thousand today. Consider aiming higher or using an inflation-adjusted goal.
What return should I assume?
A diversified stock portfolio has historically returned around 7% after inflation over long periods, though any given decade varies widely. Using a conservative figure builds in a margin of safety.
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Educational estimate, not financial advice. Investment returns are not guaranteed.