Want to find out how long it will take you to save for your first million rand? This calculator will show you how long it will take you to reach your first million rand.
How to use this calculator?
Enter the initial investment - this can be any fixed lump sum that you have saved up for. Then you need to enter the monthly deposit that you can allocate towards your savings.
When it comes to the interest rate you can expect to earn, you need to be realistic as possible. To give you an example, over the last 10 years, the average return on the South African stock market was 10.5% with an average inflation of 6.05%.