Building Wealth: The Fundamentals
Wealth building isn't about getting lucky or earning a massive salary—it's about consistent saving, smart investing, and letting compound interest work for you over decades. These calculators show you exactly how to get from $0 to $1 million.
The Three Pillars of Wealth Building
1. Compound Interest
Einstein called it "the eighth wonder of the world." Invest $500/month at 8% returns for 30 years, and you'll have $745,000. The same contributions at 10% returns? $1,130,000. Time and rate of return are your most powerful tools. Use the Compound Interest Calculator to see your timeline.
2. Tax-Advantaged Accounts
401k, IRA, Roth IRA, HSA—these accounts save you 20-40% in taxes. A $10,000 401k contribution reduces your taxes by $2,200-3,700 (at 22-37% tax brackets). Over 30 years, tax savings compound into hundreds of thousands of dollars. Always max tax-advantaged accounts before investing in taxable accounts. Use the 401k Calculator to model this.
3. Consistent Saving
Your savings rate determines how fast you build wealth. Save 10% of income = retire at 65. Save 50% = retire at 42. It's not about earning $500K/year—it's about saving 30-50% of whatever you earn. Use the Savings Calculator to find your number.
How Long to $1 Million?
| Monthly Savings | 8% Returns | 10% Returns |
|---|---|---|
| $300/month | 33 years | 30 years |
| $500/month | 28 years | 25 years |
| $1,000/month | 21 years | 19 years |
| $2,000/month | 15 years | 14 years |
Common Wealth-Building Strategies
The FIRE Method (Financial Independence, Retire Early)
Save 50-70% of your income, invest in index funds, and retire in 10-20 years. This requires aggressive saving but allows you to quit your job in your 30s-40s. Calculate your FIRE number with the Early Retirement Calculator.
The Traditional Retirement Approach
Max your 401k ($23,000/year), get employer match, invest in target-date funds, and retire at 60-65 with $1-3M. Less aggressive but proven over decades. Use the Retirement Calculator to model this.
The Aggressive Investor
Max 401k + Roth IRA + taxable brokerage. Invest 30-50% of income. Reach $1M in 15-20 years. Requires high income or low expenses, but accelerates wealth building dramatically.
Start Here
If you're new to wealth building, start with the Compound Interest Calculator. Enter your current savings, monthly contribution, and see when you'll hit $1 million. Then explore the other calculators to optimize your strategy.