Million Dollar Calculator
Calculate how long you'll need to save to reach $1,000,000 with MoneyHub's trusted calculator.
Updated 5 November 2024
How long will it take you to have $1,000,000 in cash assets?
The answer depends on how much you save and invest, the annual return you get, and how much you currently have. For example, a 30-year-old with $25,000 in current savings and contributing $5,000 per year, and receiving an annual return (after tax) of 5%, will reach $1,000,000 by the time they are 75 years old, meaning it would take 45 years. However, those prepared to save and invest more and chase higher returns can, if markets perform, become a cash millionaire much earlier.
Million Dollar Calculator Instructions
How long will it take you? Our calculator indicates your estimation in seconds. To find out:
- Enter in your current investment balance, savings account and/or term deposit balances.
- Estimate how much you can add annually (we've included $10,000 as a placeholder, so edit this to suit your income)
- Make sure you use the totals, not sub-totals.
Million Dollar Calculator
When will you have one million dollars from saving and investing?
Use this calculator to estimate how long it will take your savings and investments to grow to one million dollars.
Please note, inflation rates and taxes are not factored in. Additionally, the Investment Return will vary year on year.
Current Savings
Annual Deposits
Investment Return (Annual)
Current Age
How can I invest more and spend less?
The best starting point is to download a free budgeting app which shows you how you spend money. By knowing where your money goes, you have the best chance of cutting down on things you don't need or value. You can set up savings goals and auto-invest using platforms such as Sharesies, Hatch, Kernel and InvestNow. By cutting down expenses and diverting saved money into long-term investments, you'll move closer and closer to financial security.
What are the best investments and KiwiSaver funds?
There's no one 'best' KiwiSaver fund - our favourite KiwiSaver funds guide has more details about potential funds you may want to consider. When it comes to investing, there are endless options. Our investing guide outlines how to avoid common mistakes and make well-informed decisions.