Millionaire Calculator

Yesterday, I wrote a post on what it takes to become a millionaire, where I gave a table showing given your monthly savings and an annual rate of return, when you will have at least $1M assets (houses, cars, etc. are not included). While the table is quite straightforward, it’s not flexible enough. For example, it doesn’t consider how much one already has and the monthly savings options are limited.

To make it more usable, I made a small calculator that takes into consideration the money you already have. Of course, with the calculator, you can save whatever amount you want every month, assume whatever annual return you want and see when you will become a millionaire :)

Give it a try and let me know if you like it.

Millionaire Calculator
How much have you already saved?
How much do you plan to save every month?
Your expected annual return (%) is
Years needed to become a millionaire
Total assets you will have

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This post was written by Sun You can find out more about Sun and his activities on Facebook , or follow him on Twitter .

3 Responses to “Millionaire Calculator”

  1. Lazy Man and Money |  Feb 15, 2008 at 8:23 pm

    Something seems off with the calculator. If I say that I start with $200,000 and contribute $0 a month and I expect a 0% return it says I will retire in 5 years. I like the math, just not sure I can trust it.

  2. Sun |  Feb 15, 2008 at 9:11 pm

    Nice catch, Lazy! The bugs are fixed :)