$$$ KPO and CZM $$$: When can I be a Millionaire?

Monday, January 23, 2017

When can I be a Millionaire?

Have you ever wonder how long it will take for you to become a millionaire??? I do.

I feel that it is important to have a goal/target in mind even when it comes to managing your finances and investment journey. Hence, I came out with this google spreadsheet that forecast when you will become a millionaire!

There are a few assumptions being made:
1. Salary increment
2. Percentage of your salary invested
3. Investment return (Capital Gain % + Dividend %)
4. Dividend return (*** Dividend are not reinvested)
5. Inflation rate

Question 1:
Person A (a fresh graduate) has a salary of $3,300 (median salary according to ST) decides to invest 30% of his salary. He is hoping that his salary will increase at 5% yearly and his investment will provide him 7% return (2% capital gain + 5% dividend). How long will it take for A to become a millionaire?

Answer: 24 YEARS!!

Question 2:
Assuming A now decides to invest 50% instead of 30%, how long will A take?

Answer: 19 YEARS!

Question 3:
Similar assumption as Q1, A and B (couple) decides to work towards their millionaire goal together, how long will they take?

Answer: 17 YEARS!

I will stop here, you guys get the idea. Moral of the story, faster find a girlfriend/partner to work towards that goal! lol.

These are the rough estimate of the number of years needed:
- 5% salary increment
- 7% investment return

No matter how far fetched it may seem, it is definitely possible. Some will reach there faster than others but we will eventually become one! There are many unknowns down the road but having a rough idea of how long the journey will take is definitely better than having none.

The spreadsheet will be updated whenever you enter your latest annual salary/invested amount for that year and re-forecast based on those assumptions. Hence, it is pretty dynamic. Do give it a try and play around with those numbers!

Google Spreadsheet: Investment Forecast


  1. With inflation, multi-millionaire is also possible in your lifetime.

    1. Hi Cory,

      I certainly hope so but I guess I will be pretty happy with 1 million (at least this is what I think now). lol