FINANCIAL MATH

Find how much to save each month to hit a target by a date. Enter the goal, current savings, timeframe, and expected return.

Goal amount ($)

Current savings ($)

Years to save

Annual return (%)

Monthly Savings Needed

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To reach the goal.

Usage Tip

Automating the monthly transfer the day you are paid makes the goal far more likely — pay your savings first.

THE MATH

Needed from contributions = goal − current × (1+r)^n
Monthly = needed ÷ (((1+r)^n − 1) ÷ r)
r = monthly return, n = months

This finds the level monthly amount that, with your existing savings and expected return, reaches a target by a date.
A higher return or longer timeframe lowers the monthly amount needed.

Returns are not guaranteed; if they fall short you will need to save more or extend the timeframe.
For short-term goals, a low-risk account is safer even if the return is lower.
Inflation may raise the real cost of the goal over long horizons.

Practical Notes

This calculator estimates the monthly saving needed to reach a goal by a target date, taking into account what you have already saved and the return you expect. A higher expected return reduces the monthly amount needed, and a longer time frame does the same because contributions have more time to grow.

Returns are never guaranteed, so a conservative assumption gives a safer plan, and results are only estimates. Fees, taxes, and inflation are not included, so consider whether the goal should be raised to keep up with rising prices. Revisit the plan regularly, since changes in income, the return, or the target can change the amount you need to save.

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