(Newswire.net — July,31, 2013) Phoneix, AZ– Have you wondered how long it takes to become a millionaire? You have heard of those self-made ones (Mike Dillard is one to mention) who struck it big on their investments, business, product, etc. Have you tried to figure it out yourself, but have had trouble doing so? Fortunately there is such a thing as a millionaire calculator and no, it’s not a special calculator that will cost you a chunk of change in order to get it. You can use an everyday calculator or go to websites that has a ‘millionaire calclator’. With this you are able to calculate how much you need to save/invest in order to become a millionaire. Below are some sites you might want to take a look at with their millionaire calculator.
CNN money: This site will ask you about your taxable accounts, tax-deferred accounts and your annual gain. This might be better for those that have investments or have a few assets, but you can always play around with it.
Investopedia: This site offers a more basic calculator and asks for your current age, the age you want to become a millionaire, how much you have invested, and your investment rate. Not too much information to put in which is good if you want something fast or just starting out with investing.
AARP: This Company is known for marketing to senior citizens, but it does offer a good calculator to use for figuring what you have to save and invest to become a millionaire by 65. If you want to become a millionaire sooner than this site probably won’t be your first choice, but it’s a good one to look at.
Bankrate: This offers a decent calculator, but it is more for those that have already invested a certain amount. It will ask for your average annual return on your investments, but if you don’t have any you can always estimate.
There are hundreds of websites that offer a ‘millionaire calculator’ you can use for free. However always talk with a financial planner because they can give you a better idea on where you stand on your finances. Having someone talk one-on-one with you is always better since they can give you options on ways to make you millionaire calculations a reality.