How this calculator estimates your millionaire timeline
Reaching a large savings goal, like $1 million, comes down to three things: how much you start with, how much you add regularly, and how fast your money grows through investment returns. This calculator simulates your balance month by month, adding your monthly contribution and applying your expected rate of return, until the balance reaches your goal.
How to use it
Enter your current savings or investment balance, how much you contribute each month, the annual return rate you expect (a long-term stock market average is often cited around 7% after inflation, though actual returns vary), and your target amount (defaults to $1,000,000).
This is a simplified projection for general educational and planning purposes. It assumes a constant, uninterrupted rate of return and steady contributions, which real markets and budgets rarely provide exactly, so treat the result as a rough estimate rather than a guarantee.