Members Federal Credit Union
www.mbrcu.com

How Long Will It Take To Become a Millionaire?
Calculator

Wondering how long it will take you to become a millionaire? Discover the power of compound interest. Use this calculator to find out how long it will take for your savings to grow to a million dollars.

Your Information

Current Age:

Age to Become a Millionaire:

Amount Saved:

Amount You Can Save Monthly:

Annual Savings Rate:

Your Federal Tax Rate:

Your State Tax Rate:

Estimated Inflation Rate:

Current Age

Enter your current age in years.

Millionaire Age

Enter the age at which you wish to become a millionaire in years.

Amount Saved

Enter the amount of money you currently have saved.

Monthly Savings

Enter the amount of money you can save each month to meet your goal.

Annual Savings Rate

Enter the average annual savings rate (or interest rate) for the account in which your savings are kept.

Federal Tax Rate

Enter your federal tax rate. If you are using a tax free savings instrument, then enter 0%.

State Tax Rate

Enter your state tax rate. If you are using a tax free savings instrument for the state in which you reside, then enter 0%.

Inflation Rate

Enter the expected inflation rate for the period in question. The historical average is about 3%.

ResultsInformationResources

To become a millionaire, you can:

Invest $0 now and $0 monthly at 0% and you'll be a millionaire in 0 years at age 0.

To be a millionaire in 0 years, you can:

Change amount invested now to: $0
Change monthly savings to: $0
Achieve a rate of return of: 0%

When adjusted for inflation of 0%, $1,000,000 in 0 years will be worth $0.

Members Federal Credit Union

Members Federal Credit Union was chartered in 1968 by the employees of the City of Aurora. Any employee, retired employee or volunteer of the City or relative of an eligible individual may join. Through the years the membership has been expanded to serve other select employee groups who did not have the benefit of credit union services. These groups now include Tri-State G & T, Rural Electric Cooperatives, Medical Center of Aurora, Aurora Mental Health Center, E-470 Highway Authority and Aurora Housing Authority. Contact the credit union for a full list of eligible groups.

6 Abilene St
Aurora, CO 80011

www.mbrcu.com

Resources

The Motley Fool's "Saving & Spending Center" provides a crash-course in how to save more money, including budgeting, short-term savings vehicles, saving for college, etc.

FinancialLiteracyMonth.com's Tips & Gadgets | Tools for Success section offers helpful worksheets for income, net worth, debt load, etc. Try these exercises to get one step closer to realizing your long-term financial goals.

About.com's Money In Your 20's section has great articles to get you thinking about ways to save better.

At Credit Unions, You Save More Because credit unions are member-owned and member-operated, they pay-it-forward to members in the form of better interest rates and lower fees (instead of sending profits up to shareholders, like at a bank.) Find yours at www.CULookup.com.

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How Long Will It Take To Become a Millionaire? Calculator

Your Information

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How Long Will It Take To Become a Millionaire?
Calculator