Find out how long it takes to reach $1 million — or any target — based on what you've saved and how much you invest each month.
Reaching $1 million is less about a single big win and more about three levers working together over time: how much you've already saved, how much you add each month, and the rate of return you earn. This calculator runs the math month by month until your balance crosses your target, so you can see exactly how long the journey takes — and how each lever shortens it.
Because returns compound, the years do most of the heavy lifting. Investing $500 a month at 7% reaches seven figures in a few decades, and the final years add the most because that's when your balance — and the interest it throws off — is largest. Starting earlier beats trying to catch up later with bigger contributions.
Early on, your own contributions drive most of the growth; later, investment returns take over and can dwarf what you put in. That crossover point is the moment compounding starts working for you in earnest. Raising your monthly contribution speeds up the early years, while a higher return rate matters most over long horizons.
Tip: Use tax-advantaged accounts like a 401(k) and Roth IRA first — sheltering your growth from taxes can shave years off your timeline to $1 million.
A million isn't magic — change the target to match your real goal, whether that's $250,000 for a house or $2.5 million for early retirement. The same engine tells you how long any number takes.