Published on Financial Calculators for Fox Communities Credit Union (https://www.fintactix.com/foxcu)

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Save to be a Millionaire [1]

Everybody wants to be a millionaire, but few have the savings discipline to get there. Your current savings, additional monthly savings and the rate of return you receive all go into saving to be a millionaire. However, it may not stop there. If you want to have a million dollars worth of purchasing power, you have to factor in inflation into your savings plan. That means that depending on the amount of time it takes you to save a million dollars you might have to have saved even more to have a million worth of purchasing power.


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Source URL: https://www.fintactix.com/foxcu/tools/savings/s04

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[1] https://www.fintactix.com/foxcu/tools/savings/s04