Monthly Savings Goal Calculator
Find the monthly amount to save to reach a goal in a set number of years at an assumed rate of return. Enter savings goal, annual return and years…
8 of 8 free uses remaining today
Find the monthly amount to save to reach a goal in a set number of years at an assumed rate of return. Enter savings goal, annual return and years to see monthly saving needed when you calculate.
General information only, not financial advice. Results are estimates; fees, tax and future rate changes may affect outcomes.
Worked example
Example calculated from the starting values. Enter your own values and press Calculate to get your result.
With the default inputs (savings goal = 20,000, annual return = %4, years = 5), the results are: monthly saving needed 301.66.
Quick reference: savings goal vs result
Reference table based on the example values; it is not your calculation result.
| Savings goal | Monthly saving needed |
|---|---|
| 10,000 | 150.83 |
| 20,000 | 301.66 |
| 40,000 | 603.33 |
| 100,000 | 1,508.32 |
| 200,000 | 3,016.64 |
| 400,000 | 6,033.28 |
Frequently asked questions
What formula does this calculator use?
Monthly saving needed = goal × (r ÷ 1200) ÷ (pow(1+r ÷ 1200,y × 12)-1). Variables: goal = savings goal, r = annual return in %, y = years.
What do I need to enter?
You need savings goal, annual return (%), years. Results update as you type.
What is an example result?
With the default inputs (savings goal = 20,000, annual return = %4, years = 5), the results are: monthly saving needed 301.66.
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