# Millionaire calculator

Estimate how long a starting balance and a monthly contribution take to reach $1,000,000 at a constant compound rate.

The calculator compounds monthly and adds the contribution at the start of each month, same as the compound-interest tool. The target defaults to $1,000,000 and can be changed. The year it crosses is a constant-rate sketch. A real path will be ahead of or behind that curve for long stretches.

> Nominal dollars. If you want the milestone in today's buying power, type a real rate and say so when you repeat the result.

## Questions

### Does reaching $1,000,000 mean I can retire?

Only if your spending fits. At a 4% withdrawal rate, $1,000,000 covers about $40,000 a year before taxes. Households that spend more than that are not done when the balance ticks over seven figures. Use the FIRE calculator with your spending. A million is a round milestone, not a retirement definition.

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