Building Wealth: The Fundamentals
Most people who reach $1 million get there the same way: they invest part of their income regularly for a long time and let the returns compound. These calculators show how the three inputs — how much you invest, the return you earn and how long you keep going — translate into a timeline.
1. Compound growth
Investing $500 a month at an 8% average annual return for 30 years grows to about $745,000; at 10% it grows to about $1.13 million, even though you contributed the same $180,000 in both cases. Time and return matter enormously. Try your own numbers in the compound interest calculator.
2. Tax-advantaged accounts
401(k), 403(b), IRA and HSA accounts either reduce your taxes now (traditional) or let the money grow tax-free (Roth). A $10,000 traditional 401(k) contribution lowers federal income tax by $2,200–$3,700 for someone in the 22%–37% bracket. For 2026 the IRS limits are $24,500 for 401(k) elective deferrals (plus $8,000 catch-up at 50+, or $11,250 at ages 60–63) and $7,500 for IRAs. Model it with the 401(k) calculator.
3. Your savings rate
The share of income you invest drives the timeline more than anything else you control. To find the monthly amount for a specific goal, use millionaire by age.
How Long to $1 Million?
Starting from $0, investing at the end of each month, monthly compounding:
| Monthly investment | 7% return | 8% return | 10% return |
|---|---|---|---|
| $300/month | 43.2 years | 39.5 years | 33.8 years |
| $500/month | 36.4 years | 33.4 years | 28.9 years |
| $1,000/month | 27.6 years | 25.6 years | 22.5 years |
| $2,000/month | 19.6 years | 18.4 years | 16.5 years |
| $3,000/month | 15.5 years | 14.8 years | 13.4 years |
Returns are averages; real markets fluctuate, and the result is in future (nominal) dollars. Using 7% gives a rough picture in today's purchasing power.
Common Strategies
FIRE (Financial Independence, Retire Early): save a large share of income — often 40–70% — until investments can cover your expenses, usually estimated as 25 times annual spending (the 4% rule). See the FIRE calculator.
Traditional retirement: contribute steadily to a 401(k) and IRA, capture any employer match, and invest in diversified low-cost funds until your 60s. Use the retirement millionaire calculator.
Already have savings? Enter your current balance in the investment growth calculator to see what it becomes.
General information only, not financial advice. Past returns do not guarantee future results.