How much money to invest monthly, up to one million Dollar? - Calculate Now
Investment strategy for USD 1 million savings target
If you invest $5,000 per month, you can become a millionaire in less than 20 years with an average annual growth rate of 7%. With this investment strategy, you'll have to set aside $726,000 over the course of your career.
If you're willing to invest $10,000 per month, it will only take 11 years to become a millionaire with the same average annual growth rate. You'll have to set aside $1,313,000 over the course of your career to make this happen.
Finally, if you're willing to invest $20,000 per month and can achieve an average annual return of 7%, it will only take 6 years for you to reach $1 million in savings. You'll need to set aside $2,574,000 over the course of your career to make this happen.