Free calculatorTax year 2026/27
Millionaire calculator
How long will it take you to become a millionaire? Or, how much do you need to save each month to hit a target by a certain date?
The calculator
How the millionaire calculator works
This calculator answers two questions: how long it would take to reach £1,000,000 given your current savings and monthly contributions, or how much you would need to save each month to get there by a target date. It factors in a chosen rate of growth.
It is a motivating way to see the power of consistent saving and compounding. Turning the plan into reality is easier with a tax-efficient strategy — something we are happy to help with.
The two things that decide the outcome
Time and rate, and time does far more of the work than people expect. Money invested early compounds on everything that follows it, which is why a smaller amount started ten years sooner routinely beats a larger amount started later. The arithmetic is unintuitive and it is the whole argument for starting badly rather than waiting to start well.
Real returns, and the tax wrapper
A projection in today's money is more honest than one in future money, because inflation erodes the target as well as the contributions. And where the money sits changes the outcome substantially: an ISA is free of income tax and capital gains tax, a pension adds tax relief on the way in and is taxed on the way out, and neither is right for everyone.
Charges compound in the same direction as returns. A percentage point of annual fee sounds small and is not over decades.
Frequently asked
Does starting earlier really matter that much?+
More than almost anything else. Early contributions compound on everything that follows, so a smaller amount started ten years sooner regularly beats a larger amount started later. It is the strongest argument for starting imperfectly rather than waiting.
ISA or pension?+
They do different jobs. A pension adds tax relief going in and is taxed coming out, usually with employer contributions attached; an ISA is funded from taxed income and is free coming out, and stays accessible. Which is better depends on your tax rate now against later, and on when you need the money — which is a conversation rather than a calculation.
Related
Beyond the tools
An estimate is a starting point, not a plan.
Bring us the number you just worked out and we will tell you what it means for your position — and what to do about it.
Or call 07480 281548