How Long Does It Take to Save $1 Million?

Ava saves $1,000 a month at 7%. Her first $100,000 takes about 6.6 years, her tenth just 1.3, and the million arrives in about 28 years. Here's why each $100K gets faster, and what happens to Ben, who stops at year ten. Try your own numbers: https://moneydrawn-site.moneydrawn.wo... 0:00 The million question 0:21 Ava's plan 0:47 The slow start 1:09 Inside the first $100K 1:28 Years per $100K 1:50 The snowball 2:11 Growth takes over 2:43 Meet Ben 3:04 If you stop 3:40 What money earns 4:03 Deposits vs balance 4:34 A year of growth 5:01 Inside the million 5:19 The last $100K 5:41 Your numbers 6:09 Next episode Assumptions: $1,000/month, 7% a year after inflation, compounded monthly, deposits continue until $1,000,000, milestones every $100,000. Returns are assumptions, not predictions. Educational content, not financial advice. Returns are an assumption, not a prediction. #savemoney #compoundinterest #personalfinance