Monthly deposit to reach $1,000,000
Starting from zero, here's roughly how much you'd need to invest each month to hit $1,000,000, depending on your timeframe and average annual return:
| Timeframe | 5% return | 7% return | 9% return |
|---|---|---|---|
| 5 years | $14,705/mo | $13,968/mo | $13,258/mo |
| 10 years | $6,440/mo | $5,778/mo | $5,168/mo |
| 15 years | $3,741/mo | $3,155/mo | $2,643/mo |
| 20 years | $2,433/mo | $1,920/mo | $1,497/mo |
| 25 years | $1,679/mo | $1,234/mo | $892/mo |
| 30 years | $1,202/mo | $820/mo | $546/mo |
For example, to reach $1,000,000 in 20 years at a 7% return, you'd invest about $1,920/month. That's about $960/month more than reaching $500,000 on the same timeline.
Halfway there first: reaching $500,000 on the same 20-year, 7% plan takes about $960/month - exactly half the deposit, since this math scales linearly with the target.
Have a lump sum instead of a monthly budget? Investing $258,419 today, left untouched for 20 years at a 7% return, would also grow to about $1,000,000.
Reach your goal faster
- Time is your biggest ally — starting earlier slashes the monthly amount needed.
- Automate deposits so you never miss a month.
- Higher (but realistic) returns dramatically reduce what you must contribute.
Calculations use steady return assumptions and exclude taxes.