How to save $1,000,000 in 5 years
Save each month (at 6% / yr)
$14,332.80/mo
You contribute
$859,968
Investment growth
$140,032
Goal
$1,000,000
To reach $1,000,000 in 5 years assuming a 6% annual return compounded monthly, you'd need to invest about $14,332.80 per month. Over 60 months you contribute $859,968, and compound growth adds the remaining $140,032.
Assumes a constant 6% annual return compounded monthly. Illustration only, not financial advice.
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