Getting To One Million Dollars for Retirement Takes Discipline

Regular monthly savings and investing is the key to building a large nest egg to meet your future financial needs. So how can you accumulate one million dollars for your retirement?

Each cell of the next table shows you how much money you must invest every month for different time periods and rates of return to accumulate one million dollars. For example, to achieve the one million dollar goal in 20 years with a four percent rate of return on your investments, you must invest $2,726.47 each month for 20 years. The four percent compound interest rate ensures that your total investment of $654,352.80 becomes one million dollars.

Monthly Savings Required to Accumulate $1,000,000

Years to Invest

Rate of Return





$6,791.18 $6,102.05 $5,466.09


$2,726.47 $2,164.31 $1,697.73


$1,440.82 $995.51 $670.98


$846.05 $502.14 $286.45


$523.74 $264.05 $126.08
NOTE: To accumulate $2,000,000 double the value in each cell. To accumulate $500,000 divide the value in each cell by two.

The table shows that the longer you save and invest the less you have to save and invest each month to reach your goal. For example, with a four percent return and ten years to get to one million dollars, you would have to invest $6,791.18 each month. But if started with 40 years to go, you would need to save only only $846.05 each month. Obviously it pays to start saving and investing at a young age.

Next, the table shows that for higher rates of return on your investments you need to save and invest less money than for lower rates of return. For example, if you earn a six percent return over 30 years, you must invest $995.51 each month to get your million dollars. But if you earn only two percent on your investments, you need to invest $2,029.53 each month for 30 years.

When using the above table, it's best to select a conservative rate of return such as four percent. If you select a high rate of return, such as eight percent, and you do not achieve it, you will miss the one million dollar target because you did not save and invest enough money.

Don't substitute over confident investing for thrifty savings.

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