Savings Goal Calculator
Find out how much to save each month to reach a target by a chosen date, allowing for any current savings and an assumed rate of return.
Working back from a goal
Instead of asking what a monthly amount grows to, this reverses the question: given a target and a time frame, how much do you need to set aside each month? Any money you already have is grown forward at the assumed return, and the monthly contribution is solved to cover the remaining gap.
The maths is the future-value-of-an-annuity formula rearranged for the payment. A higher assumed return lowers the monthly amount because compounding does more of the work; a longer horizon does the same. If your current savings already grow past the goal on their own, the required contribution is zero.
The return is an assumption, not a promise — real returns vary and can be negative in any given year, so a conservative rate is safer for planning. Results are before taxes and inflation. For a goal in today's money, use a return net of expected inflation.
Frequently asked questions
What return should I assume?
A cautious figure is safer than an optimistic one, since markets fall as well as rise. Many planners model diversified long-term portfolios conservatively; there is no guaranteed rate, so test a range.
Does a higher return really cut the monthly amount that much?
Over long horizons, yes — compounding contributes more of the total, so you supply less. But higher expected returns usually come with higher risk of shortfalls, which the average figure hides.
Is this adjusted for inflation?
No. The goal and results are in nominal terms. To target a sum in today's purchasing power, enter a return reduced by the inflation rate you expect.
What if I can't manage the monthly amount?
Extend the time frame, lower the goal, or increase current savings — each reduces the required monthly contribution. The tool lets you try combinations instantly.
