About this calculator
Your current savings grow to C × (1 + i)n, where i is the monthly return and n the number of months. The monthly saving that covers the rest is (goal − that amount) × i ÷ ((1 + i)n − 1). Returns are not guaranteed; use a cautious rate.
Worked example
To reach 50,000 in 3 years with 5,000 already saved and a 4% yearly return, you need to save about 1,161.91 a month.
How to use the savings goal calculator
- Enter the savings goal.
- Enter the saved so far.
- Enter the time to goal.
- Enter the expected return (per year).
- Read the result — it updates as you type.
Frequently asked questions
What return should I use?
Use a cautious figure, such as a savings account rate. Investment returns vary and can be negative.
When are deposits assumed to be made?
At the end of each month.