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Career & Work

Becoming A Millionaire

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2.240614/5

It may surprise you how quickly you can accumulate a million dollars. Use this calculator to determine the annual amount you would have to set aside each year to reach a million dollars.

Savings and Assumptions	Input
Current age	(1-99)
Age to accumulate a million dollars	(1-99)
Initial balance or deposit	(0-9999999)$
Annual increase on new savings: (%)	(0-12)%
Before-tax return on savings: (%)	(0-12)%
Marginal tax bracket: (%)	(0-50)%
Anticipated inflation rate: (%)	(0-10)%

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Savings and Assumptions	Input
Current age
Age to accumulate a million dollars
Initial balance or deposit
Annual increase on new savings: (%)
Before-tax return on savings: (%)
Marginal tax bracket: (%)
Anticipated inflation rate: (%)

See All Calculators

{ "fields" : { "udata" : [ "currentAge" , "retirementAge" , "initialBalance" , "savingsIncrease" , "beforeTaxReturn" , "taxBracket" , "inflationRate" ] } }

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This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

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Rates

See today's average rates across the country.

• Mortgage

  Loan Type	Today	Last Week
  30 Year Fixed	5.02%	4.98%
  15 Year Fixed	4.55%	4.54%
  1 Year ARM	3.93%	3.92%
  30 Year Fixed Jumbo	5.89%	5.86%
  5/1 ARM	4.18%	4.09%
  3/1 ARM	4.73%	4.95%

  Source: Bankrate
• Home Equity

  Loan Type	Today	Last Week
  $30K Home Equity Loan	8.35%	8.30%
  $50K Home Equity Loan	8.21%	8.16%
  $75K Home Equity Loan	8.24%	8.19%
  $30K HELOC	5.22%	5.20%
  $50K HELOC	4.95%	4.93%
  $75K HELOC	4.96%	4.94%

  Source: Bankrate
• Savings

  Savings Type	Today	Last Week
  6 month CD	1.12%	1.13%
  1 year CD	1.56%	1.59%
  3 year CD	2.24%	2.27%
  MMA	1.03%	1.04%
  $10K MMA	1.11%	1.11%
  $25K MMA	1.32%	1.32%

  Source: Bankrate
• Auto

  Loan Type	Today	Last Week
  36 Month New Car Loan	6.67%	6.69%
  48 Month New Car Loan	6.79%	6.81%
  60 Month New Car Loan	6.83%	6.86%
  72 Month New Car Loan	6.12%	6.26%
  36 Month Used Car Loan	7.15%	7.21%
  48 Month Used Car Loan	7.02%	7.09%

  Source: Bankrate
• Credit Cards

  Card Type	Today	Last Week
  Business Credit Cards	9.74%	9.49%
  Low Interest Credit Cards	11.65%	11.65%
  Cash Back Credit Cards	12.08%	12.08%
  Balance Transfer Credit Cards	12.13%	12.07%
  Reward Credit Cards	13.29%	13.29%
  Instant Approval Credit Cards	13.32%	13.32%

  Source: CreditCards.com

View rates in your area

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