Financial Planning -> Save Money -> Save $1 million
How Much Must be Invested Today to Have $1 Million in the Future?
| # of Years & Amount That Must be Invested Today | ||||||||
| % return | 5 yrs | 10 yrs | 15 yrs | 20 yrs | 30 yrs | 40 yrs | 50 yrs | 60 yrs |
| 2.5% | 883,854 | 781,198 | 690,466 | 610,271 | 476,743 | 372,431 | 290,942 | 227,284 |
| 5.0% | 783,526 | 613,913 | 481,017 | 376,889 | 231,377 | 142,046 | 87,204 | 53,536 |
| 7.5% | 696,559 | 485,194 | 337,966 | 235,413 | 114,221 | 55,419 | 26,889 | 13,046 |
| 10.0% | 620,921 | 385,543 | 239,392 | 148,644 | 57,309 | 22,095 | 8,519 | 3,284 |
| 12.5% | 554,929 | 307,946 | 170,888 | 94,831 | 29,203 | 8,993 | 2,769 | 853 |
| 15.0% | 497,177 | 247,185 | 122,894 | 61,100 | 15,103 | 3,733 | 923 | 228 |
As you can see, if you could get an average return of 10% per year, you could deposit $8,519 today (yes, just one deposit) and have it grow to $1 million in 50 years. This is the magic of compounding - earning a return from your previous returns. You can also see that getting a 10% return, which is double a 5% return, results in a lot more than double the investment when invested for decades.
All amounts are compounded annually at the rate of returns shown above, and all amounts are pre-tax.
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Present and Future Value Calculator - use your own numbers to do these calculations.
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Revised: October 26, 2023