The Millionaire Savings Calculator answers a simple question: starting from what you have now, how long until your savings hit a million — or any target you choose?
How it works
Each month the calculator grows your balance by one twelfth of your expected annual return, then adds your monthly contribution, and counts how many months it takes to cross your target:
monthly rate = annual return ÷ 12 new balance = old balance × (1 + monthly rate) + monthly contribution
Because gains compound on previous gains, the balance accelerates over time — most of the journey to a million happens in the final years.
Example timelines to one million
| Starting amount | Monthly contribution | Annual return | Time to £/$1,000,000 |
|---|---|---|---|
| 0 | 500 | 7% | ~36 years |
| 0 | 1,000 | 7% | ~26 years |
| 50,000 | 1,000 | 7% | ~22 years |
| 0 | 2,000 | 7% | ~20 years |
These figures are nominal and before tax and inflation. The same maths works for any target, so you can use it as a general savings-goal timeline calculator too.