How much do you need to save to retire with 1 million?
A million is the number most people picture, so it is worth being precise about what it takes to get there and what it buys when you arrive. Adjust the inputs below and the insight panel will name the monthly figure that reaches it.
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The monthly number is smaller than people expect - if you start early
Compounding rewards time far more than it rewards size of deposit. Starting at 30 with a 7% assumption, a million is reachable on a contribution most households could recognise. Starting at 45, the same target needs roughly three times the monthly amount.
That asymmetry is the whole argument for beginning before the plan feels affordable. The first decade contributes little in cash and enormously in compounding.
What a million actually buys
At a 4% withdrawal rate a million pays about 40,000 a year, or a little over 3,300 a month, before tax. That is a comfortable but not extravagant income in most high-income countries.
Then apply inflation. The chart on this page shows a million in twenty-five years buying roughly what half a million buys today at 2.5% inflation. Judge the target in today's money, not in headline cash.
Frequently asked questions
How long does it take to save a million?
On the default assumptions here, roughly twenty-five years of steady contributions with a modest starting balance. Change the monthly figure and the projection updates instantly.
Is a million enough to retire on?
It depends on your spending, your other income and how long the money must last. A million supporting 40,000 a year works for many households and not at all for others.
What if I can only save half that amount?
Then either the timeline extends or the target comes down. The calculator shows both effects - raise the retirement age and watch the readiness score move.
Does this account for tax?
No. Withdrawals are usually taxable, so the spendable income is lower than the gross figure shown. Treat the output as pre-tax.
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