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Finances
Growth Assumptions
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Growth Projection
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How this Millionaire Calculator works
The UK Millionaire Calculator is designed to help you visualise your path to financial independence. Unlike simple savings calculators, it accounts for the three most critical factors in wealth building: compound interest, inflation, and contributions.
Whether you are investing through a Stocks & Shares ISA, a SIPP (Self-Invested Personal Pension), or a workplace pension, this tool projects how your money could grow over time using realistic UK market assumptions.
How to use it
- 1Select your goal
Choose "Time to £1m" to see how long it takes, or "Monthly Saving" to see how much you need to contribute by a deadline. - 2Enter your numbers
Input your current age, savings pot, and how much you can invest monthly. - 3Review "Real" vs "Nominal"
Check the "Real" value to understand what your future money is worth in today's terms.
What "Millionaire" means in practice
Being a "paper millionaire" (Nominal) is different from having £1m of purchasing power (Real). If inflation averages 2.5%, £1,000,000 in 20 years will only buy roughly £600,000 worth of goods in today's money.
To live a millionaire lifestyle in the future, you may need a pot significantly larger than £1m. This tool helps you target the Real value.
Maximising Tax Efficiency
In the UK, shielding your growth from tax is vital for reaching £1m faster.
- ISA: Profits are tax-free forever. Flexible access.
- Pension/SIPP: Tax relief on contributions (25% boost), but locked until 55/57.
Assumptions & Methodology
This calculator uses a monthly compounding formula. We assume contributions are added at the start of each month.
Frequently Asked Questions
Disclaimer: This tool provides calculations based on the inputs provided and is for information purposes only. It does not constitute financial advice. Tax rules (ISA/Pension limits) are subject to change by HMRC.