How Long Will It Take To Become A Millionaire?

jeffrey · #1 (**permalink**) 04-16-2004, 11:38 PM

Ever wonder how long it would take you to become a Millionaire? Have some fun and see exactly how many years you have to go by using the SavingAdvice.com Millionaire Calculator. You might be surprised by the results.

Tree0164 · #2 (**permalink**) 04-17-2004, 01:39 PM

Going to take me a long time. LOL

2moretrees · #3 (**permalink**) 04-17-2004, 06:42 PM

I bet it is going to take me even longer - LOL

The Budget Man · #4 (**permalink**) 07-07-2006, 06:34 AM

I was in Kazakhstan a few years after the fall of Communism. In just under a week the Rouble went from being 1100 Roubles to the $USD to 1400 Roubles to the dollar.

The traders in the markets had cardboard boxes full of money. A trip to the gas station cost over 1million roubles.

5 years earlier 1 rouble was equal to 1 dollar. In just that short time the money had become almost worthless. When the currency was revalued they simply said that all note of less than a certain value were made worthless. The box of currency the traders had became useless over night. Worst hit were the pensioners who lost all their savings.

It's not the amount of money that counts, it's the buying power of the money.

We often forget that as the cost of living rises, the cost of retirement also rises. I work on the idea that the interest I earn has to equal inflation or better so I'm not going backward.

Enjoy Your Money
The Budget Man

www.PersonalityBudgeting.com
A budget that works is a good budget!

MarshallMiddle · #5 (**permalink**) 07-10-2006, 04:03 AM

I am definately on track to save a million by retirement and reach my goal.

Ima saver · #6 (**permalink**) 07-10-2006, 10:18 AM

If i save $800 a month, I will be on track to have $1 million cash in 8 years!

getforfree · #7 (**permalink**) 07-10-2006, 05:17 PM

it would take me 67 years. I don't think I will still be alive at that time.

markio26 · #8 (**permalink**) 08-01-2006, 08:40 AM

i redid the calculations again and added in iras, real estate owned, cash, 4% rate of return, just to be on the safe side... if i just add $150 a month to the stash.. it will be 13 yrs... but, we of course add more than this each month..... this calculator is too much fun.... thanks jeffrey....