Want to save a million dollars?

So you want to be a millionaire? Or, maybe you think saving a million dollars is not an achievable goal? Use the Save a Million Dollars calculator to find out. It can help you determine how much you'll need to put aside and for how long. Use the results to help develop a successful savings strategy and you could be on your way to your first million.

Results

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To save $1 million, your deposit should be	$18,532
Starting balance	$1,000
Total deposits	$555,946
Total interest earned	$590,739
Total taxes paid	$147,685
Total savings	$1,000,000

This calculator assumes that the compounding frequency is the same as the deposit/payment frequency. Taxes are paid out of interest earned each period.