Your age
Your current age in years.

Millionaire target age
The age you want to become a millionaire. For example, to find out what it could take to be a millionaire by age 40, enter 40 here.

Amount currently invested
Total value of all of your current investments. Although you could include your home and personal property in this amount, it is more realistic to include only your savings, retirement accounts and investments.

Savings per month
The amount you will contribute each month to your investments. This calculator assumes that all savings are added to your account at the beginning of the month.

Expected rate of Return
This is the annually compounded rate of return you expect from your investments. The actual rate of return is largely dependant on the type of investments you select. For example, from 1950-2002, the average annual rate of return for the Canadian stock market was 10.5%. For the purposes of this calculator, taxation is not factored into the results. If you pay taxes on the interest, dividends or capital gains from these investments you may wish to enter your after-tax rate of return.

Expected Inflation Rate
What you expect for the average long-term inflation rate. From 1950-2002, the rate of inflation in Canada was 4.1%.