Based on your existing savings of $500 it appears that you will need to save $39,657 indexed at 0.0% annually in order to become a millionaire by age 50 .However, a million today will not be worth the same in 15 years. One million adjusted for inflation of 3.0% will be $1,557,967 in 15 years. You will need to save $61,811 annually (indexed at 0.0%) to reach that goal by age 50. <div id="chart1Container">Chart will load here</div> <script type="text/javascript"> <!-- var myChart1 = new FusionCharts( "MSColumn2D", "myChart1Id", "100%", "100%", "0", "1" ); myChart1.setXMLData("<chart showValues='0' showFCMenuItem='0' decimals='0' formatNumberScale='0' caption='Annual Savings Growth' xAxisName='Age' numberPrefix='$' bgColor='FFFFFF' showBorder='1' borderColor='FFFFFF' borderThickness='1' canvasBgColor='ffffff' showAlternateHGridColor='0' plotGradientColor='' numberSuffix='' thousandSeparator=',' decimalSeparator='.'><categories><category label='35' /><category label='' /><category label='37' /><category label='' /><category label='39' /><category label='' /><category label='41' /><category label='' /><category label='43' /><category label='' /><category label='45' /><category label='' /><category label='47' /><category label='' /><category label='49' /></categories><dataset seriesName=''><set value='42662.0' /><set value='87456.0' /><set value='135044.0' /><set value='185602.0' /><set value='239315.0' /><set value='296379.0' /><set value='357004.0' /><set value='421412.0' /><set value='489840.0' /><set value='562537.0' /><set value='639770.0' /><set value='721823.0' /><set value='808996.0' /><set value='901608.0' /><set value='1000000.0' /></dataset></chart>"); // --> </script> <table class='pure-table pure-table-bordered' role='grid'><tr><th scope="col">Age</th><th scope="col">Beginning Balance</th><th scope="col">Savings @ 0.0%</th><th scope="col">Earnings</th><th scope="col">Taxes @ 22.0%</th><th scope="col">Ending Balance</th></tr><tr><td role="rowheader" scope="row">35</td><td>$500</td><td>$39,657</td><td>$3,213</td><td>$707</td><td>$42,662</td></tr><tr><td role="rowheader" scope="row">36</td><td>42,662</td><td>39,657</td><td>6,586</td><td>1,449</td><td>87,456</td></tr><tr><td role="rowheader" scope="row">37</td><td>87,456</td><td>39,657</td><td>10,169</td><td>2,237</td><td>135,044</td></tr><tr><td role="rowheader" scope="row">38</td><td>135,044</td><td>39,657</td><td>13,976</td><td>3,075</td><td>185,602</td></tr><tr><td role="rowheader" scope="row">39</td><td>185,602</td><td>39,657</td><td>18,021</td><td>3,965</td><td>239,315</td></tr><tr><td role="rowheader" scope="row">40</td><td>239,315</td><td>39,657</td><td>22,318</td><td>4,910</td><td>296,379</td></tr><tr><td role="rowheader" scope="row">41</td><td>296,379</td><td>39,657</td><td>26,883</td><td>5,914</td><td>357,004</td></tr><tr><td role="rowheader" scope="row">42</td><td>357,004</td><td>39,657</td><td>31,733</td><td>6,981</td><td>421,412</td></tr><tr><td role="rowheader" scope="row">43</td><td>421,412</td><td>39,657</td><td>36,886</td><td>8,115</td><td>489,840</td></tr><tr><td role="rowheader" scope="row">44</td><td>489,840</td><td>39,657</td><td>42,360</td><td>9,319</td><td>562,537</td></tr><tr><td role="rowheader" scope="row">45</td><td>562,537</td><td>39,657</td><td>48,175</td><td>10,599</td><td>639,770</td></tr><tr><td role="rowheader" scope="row">46</td><td>639,770</td><td>39,657</td><td>54,354</td><td>11,958</td><td>721,823</td></tr><tr><td role="rowheader" scope="row">47</td><td>721,823</td><td>39,657</td><td>60,918</td><td>13,402</td><td>808,996</td></tr><tr><td role="rowheader" scope="row">48</td><td>808,996</td><td>39,657</td><td>67,892</td><td>14,936</td><td>901,608</td></tr><tr><td role="rowheader" scope="row">49</td><td>901,608</td><td>39,657</td><td>75,301</td><td>16,566</td><td>1,000,000</td></tr></table>