How can I save a million dollars?

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How can I save a million dollars?

This calculator tells you how much you need to save each month to accumulate a million dollars.

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Starting balance

How long will you save

term in months or years Months Years

Rate of return

Income tax rate

Show amortization schedule

Calculator Results

You would need to save $2,090.61 each month for 30 years to save a million dollars.

Calculator tips

In this calculation, your return on investment is adjusted by your income tax rate to yield an equivalent rate of 1.819 %. These taxes are calculated at the end of the savings term which most closely matches a 401K or IRA savings scenario. However, keep in mind that there may be additional limits on your contribution amount which are outside the scope of this calculator.

The million dollar withdrawal is available upon your final deposit.

Calculator disclaimer

The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.

Back to All Calculators

The information these calculators provide is intended for illustrative purposes only and not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not apply to your individual situation. Be sure to consult a financial professional prior to relying on the results.

How can I save a million dollars?

How can I save a million dollars?

Calculator Results

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