Savings Goal Calculator
Enter your target amount, time frame, and expected return to see how much you need to set aside each month to reach the goal.
How it works
How the required monthly saving is derived
With no assumed return, the math is simple: subtract your current savings from the target, then divide by the number of months. Over ten years (120 months) with no growth, a 100,000 dollar goal needs about 833 dollars a month.
The effect of return and time
Add an expected return and the calculator switches to a future-value annuity. It first grows your current savings forward, then solves for the level monthly deposit whose compounded balance fills the rest. At an assumed 5 percent over the same ten years, the monthly figure drops to roughly 644 dollars, because compounding does part of the work for you. The longer the horizon, the more the return matters.
How to read your result
The headline number is what you contribute each month; the total contributed line shows only your own money, not the growth on top.
Caveats
- For short-term goals, keep the money safe and do not rely on volatile assets.
- Any assumed return is an assumption, never a guarantee.
- Inflation can lift the real cost of your goal, so review the target over time.
Read next
How to set money goals that actually work (SMART) →
See the compounding: how the same money grows through compounding →
Frequently Asked Questions
How is the monthly amount calculated?
With no assumed return it is simply the goal minus your current savings, divided by the number of months. With a return it becomes a future-value annuity: your current savings are grown forward, and the calculator solves for the level monthly deposit that fills the gap with compounding.
Does a higher assumed return always help?
It lowers the monthly figure on paper, but a higher return also means more risk. For anything you need within a few years, a conservative or zero return keeps the plan realistic.
Where should I keep money for a short-term goal?
For goals within roughly three years, favour safe, liquid options such as a high-yield savings account or short-term deposits. Volatile assets can fall right when you need the cash.
What about inflation?
The calculator works in nominal terms. For far-off goals the real price tag may rise, so consider nudging the target upward to protect your purchasing power.
Are taxes included?
No. Returns may be taxed depending on the account and your country, which can reduce the growth shown here. Treat the result as a pre-tax estimate.
What if my current savings already reach the goal?
Then the required monthly saving shows zero, because compounding alone is projected to carry your existing balance to the target over the period.
This calculator is an educational estimate, not individual financial advice. It does not account for taxes or inflation.