Your age

Your current age in years.

Millionaire target age

The age you want to become a millionaire. For example, to find out what it could take to be a millionaire by age 40, enter 40 here.

Amount currently invested

Total value of all of your current investments. Although you could include your home and personal property in this amount - it is a bit more accurate to include only your savings, retirement accounts and investments.

Savings per month

The amount you will contribute each month to your investments. This calculator assumes that all savings are added to your account at the beginning of the month.

Expected Rate of Return

This is the annually compounded rate of return you expect from your investments. The actual rate of return is largely dependant on the type of investments you select. For example, for the last thirty years the average annual rate of return for the TSX is about 11%. For the purposes of this calculator taxation is not factored into the results. If you pay taxes on the interest, dividends or capital gains from these investments you may wish to enter your after tax rate of return.

Expected Inflation Rate

What you expect for the average long-term inflation rate.