Savings Goal Calculator
Calculate the monthly contribution needed to reach a savings target after accounting for your current balance, time horizon and expected annual return.
Goal breakdown
Results are estimates for informational purposes only. Verify important financial, tax, real-estate or retirement decisions with a qualified professional.
How the savings goal calculator works
The calculator first projects what your existing savings may grow to. It then solves for the monthly end-of-month contribution required to close the remaining gap by your chosen deadline.
A five-year house down-payment fund and a twenty-year investment goal should not automatically use the same expected return. Shorter horizons generally call for more conservative assumptions.
What the result means
The monthly contribution is the amount required under the assumptions you entered. Saving more, earning a higher return or extending the deadline reduces the required monthly amount; a larger target increases it.
Frequently asked questions
Can I use this for an emergency fund?
Yes. For short-term goals, use a conservative return assumption consistent with a savings or cash account.
What if my current savings already exceed the target?
The required monthly contribution will be zero and the calculator will show that the target is already funded under the assumptions.
Are contributions assumed at the beginning or end of each month?
The calculation assumes contributions are made at the end of each month.
What return should I use for a short-term goal?
For a goal only a few years away, a conservative cash-like rate is often more appropriate than assuming stock-market returns.
What if the target is not reached exactly because of rounding?
The displayed contribution is rounded for readability, while the calculation itself uses full precision.