Savings to Reach a Goal

This chart shows how much you need to save to reach a goal.
Describe your goal
Become a millionaire
Cost of goal (today's dollars - maximum value $5,000,000)
1,000,000
Info
Reach goal in how many years? (maximum 50 years)
25.00
Inflation rate (maximum value %)
2.00%
Info
X
Input Error: Inflation Rate
Enter a value between 0% and %.
Cost of goal (future dollars)
1,640,606
Current savings (maximum value $500,000)
300,000
Monthly savings (maximum value $12,000)
750
Rate of return (maximum value %)
6.00%
X
Input Error: Rate of return
Enter a value between 0 and %.
Become a millionaire
Goal
Savings


 
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Assumptions
The future cost of your goal is calculated using the entered inflation rate and years values. Taxes on the growth or redemption of your savings are not included in the calculations.

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