Savings goal calculator

This finds the monthly amount that takes a current balance to a goal over the years you enter. Growth on money already saved lowers the payment. The return stays at the rate you type. The savings goal guide uses the same example.

Monthly contribution is the payment that grows the current balance to the goal over the periods, at the periodic rate. Money already saved reduces that payment.

Monthly savings

Enter a goal, a current balance, an annual return, and years.

How to find a monthly savings amount

Enter the goal and the current balance. The current balance may be zero. The goal must be greater than zero.
Enter the annual return and the years. Contributions are monthly. The monthly rate is the annual return divided by 12.
Read the payment and how it splits. Total added is the monthly payment times the number of months. The rest of the path from today's balance to the goal is growth.

Frequently asked questions

How is the monthly savings amount calculated?: The current balance grows at the monthly rate for the years you enter. The payment is the end-of-month contribution that closes the gap to the goal. $10,000 growing at 7% toward $100,000 in 10 years needs about $462 a month.
What if the current balance already reaches the goal?: The monthly payment is $0. Growth on money already saved is doing the work, under the return you typed. A lower return can bring a payment back.
Is this investment advice?: No. The calculator is for general informational and educational purposes only. The return is an assumption you choose.

Related guides

How to find a monthly savings amount

Enter the goal and the current balance. The current balance may be zero. The goal must be greater than zero.

Enter the annual return and the years. Contributions are monthly. The monthly rate is the annual return divided by 12.

Read the payment and how it splits. Total added is the monthly payment times the number of months. The rest of the path from today's balance to the goal is growth.

Frequently asked questions

How is the monthly savings amount calculated?

The current balance grows at the monthly rate for the years you enter. The payment is the end-of-month contribution that closes the gap to the goal. $10,000 growing at 7% toward $100,000 in 10 years needs about $462 a month.

What if the current balance already reaches the goal?

The monthly payment is $0. Growth on money already saved is doing the work, under the return you typed. A lower return can bring a payment back.

Is this investment advice?

No. The calculator is for general informational and educational purposes only. The return is an assumption you choose.

Monthly savings

How to find a monthly savings amount

Frequently asked questions

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Monthly savings

How to find a monthly savings amount

Frequently asked questions

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