There are two things only money can buy—
Freedom and Options.
Becoming a Millionaire is easier than most people think—
and can be accomplished by following elementary math calculations.
1. If you invest $15,000 to start (you can split this cost with your significant other)
2. Earn 10% (after-tax) on your investment
3. Leave it invested at 10%
4. Add another $15,000 every year at 10%
5. You will have $1,056,041 after 21 years.
• If you never invest another dime, you can withdraw $105,604 in income each year, without touching your Money Tree.
• You will have invested a total of $315,000 over the years but will have achieved over $1 Million in assets.
• Or, if you decide to leave that $1,056,041 invested at 10%, and not add another cent, you will have over $2 Million at the end of an additional 7 years. $3 Million, 4 years after that.
If you are young, you have the most valuable investment tool of all on your side—TIME. Add the miracle of Compounding Interest, and you can be well on your way to a great financial future.
Don’t like the numbers used above?
This calculator lets you input your own savings/investment/% goals and then it shows you how many years until you can become a Millionaire—on your own terms.
It also offers a “What-If” section.
You can input your own assumptions “year by year” and get results “year by year” for up to 40 years—and then email your results.
Want to achieve your financial and lifestyle goals? Start with the calculator. Then, educate yourself about investing or seek out an experienced, licensed, and ethical financial planner.
- Modernized the app to support iOS 10.
Ratings and Reviews
I feel richer already!
Simple to use and a great app for understanding the effect of compound interest. It is particularly useful for young savers where compounding interest will have the most impact.
Simple tool well presented no frills , just good information. Highly recommended !
Simple and effective
Nice tool for on the go calculations
With Family Sharing set up, up to six family members can use this app.