Studies show that people have a hard time comprehending large numbers, and for me personally, the thought of saving $1 million was overwhelming. I found it a lot easier to take it one day at a time and break out my target into daily, weekly, and annual savings goals. While it was initially difficult for me to reach my daily savings goal, it got easier over time.
This calculator makes it easy to see how saving even $5 per day adds up and your money will grow incredibly quickly.
To achieve financial independence, here's what you'd need to save depending on your timeline and saving frequency: