# The Million Dollar Age Grid

This grid shows at what age you can become a millionaire, based on your yearly savings and what age you start saving. This grid assumes you start with \$0 and your savings are invested at a 7% annual interest rate.

For example: If you start saving \$24,000 every year starting at age 30, you will have one million dollars by time you are 50.

Here’s the math behind that:

## Some Interesting Observations

• No matter what age you start, by saving \$10,000 per year you can become a millionaire in 30 years
• No matter what age you start, by saving \$20,000 per year you can become a millionaire in 22 years
• No matter what age you start, by saving \$40,000 per year you can become a millionaire in 15 years
• A 50 year old with a net worth of \$0 can become a millionaire by 63 through saving \$50,000 per year. This might seem unreasonable, but keep in mind this is the age where most people are near their peak earnings.
• Anyone can become a millionaire before the traditional retirement age of 65 by saving only \$4,000 per year starting at age 20.

## 2 Replies to “The Million Dollar Age Grid”

1. Steveark says:

That’s very interesting, and
my experience bears it out. Saving what I did the chart hits almost to the year my first million in investments. It shows that normal people with a little abnormal discipline can’t avoid becoming millionaires.

1. That’s awesome to hear you can confirm the numbers for the chart through your own experience! And I agree with you – discipline is the one trait that can allow anyone to become a millionaire given enough time.