Savings Goal Calculator
Work out how much to set aside each month to reach a savings goal. Enter your target amount, how long you have, an expected return and anything you have saved already.
How to use the savings goal calculator
- Enter your savings goal and how many years you have to reach it.
- Set an expected annual return and any current savings.
- Read the required monthly contribution, what you put in and the growth.
Frequently asked questions
How is the required monthly contribution calculated?
It solves the future value of an annuity for the level monthly deposit. Required monthly equals the gap between your target and your grown current savings, multiplied by the monthly rate, divided by ((1 + monthly rate) raised to the number of months, minus one).
How does the expected return affect the amount I save?
A higher return does more of the work, so you need to contribute less each month. A return of zero just splits the remaining target evenly across every month.
What if I already have some savings?
Enter it as current savings. The calculator grows that balance at the same rate and only asks you to contribute the difference. If your current savings already reach the target on their own, the required monthly contribution is zero.
Is the expected return guaranteed?
No. The return is an assumption you provide, not a promise. Real markets move up and down, so treat the monthly figure as a planning estimate and revisit it as conditions change.
Does it account for inflation, taxes or fees?
Not directly. The result is a nominal projection before inflation, taxes and account or fund fees. If you want a real target, use a return net of those costs.
Are my numbers sent anywhere?
No. The math runs entirely in your browser. Nothing you type is uploaded or stored.
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