Savings Goal Calculator
Find the monthly amount you need to save to reach a target by a chosen date, based on your current savings and an expected return.
- Free
- No sign-up
Enter your goal and timeframe to see what to save.
Worked example
With these example inputs:
- Savings goal$50,000
- Current savings$5,000
- Years to save10 yr
- Expected annual return6%
Monthly contribution needed: $249.59
- Starting amount$5,000
- Total contributions$29,951
- Interest earned$15,049
Frequently asked questions
How is the monthly amount worked out?
It solves how much you must add each month so your current savings plus contributions and growth reach the goal by your target date.
What return should I assume?
For short goals a cash or savings rate is safest. For long goals invested in the market a higher figure may apply, but returns are never guaranteed.