Savings / THE DECISION DESK
Savings Goal Calculator
Calculate the monthly amount needed to reach a savings goal by your deadline.
Reviewed Calculation inputs stay in your browser
Compare up to three snapshots of inputs and headline results. Snapshots clear when you leave this page.
$606.83
Deposit at month-end for 60 months to target $50,000.
Where the goal comes from
How this is calculated
The annual return entered is a nominal annual rate divided by 12, with monthly compounding. Your existing savings grow for the selected period. The remaining gap is divided by the future-value factor for equal deposits made at the end of each month.
Returns are estimates, not guarantees. Taxes, fees, inflation, and changing rates are not included.
Further reading: Investor.gov: saving and investing.
Common questions
›Does the monthly target assume deposits at the start or end of the month?
It assumes deposits at the end of each month, which is slightly more conservative than beginning-of-month deposits.
›What return should I use for a short-term goal?
For money needed within a few years, use the yield you reasonably expect from a savings account or similar low-volatility holding rather than a long-term stock-market average.
Related calculators
- SavingsCompound Interest CalculatorProject savings with regular deposits, compare contributions with growth, and see the effect of inflation.
- SavingsMonthly Budget PlannerAllocate take-home income across essentials, lifestyle spending, and saving. See what is left and compare a 50/30/20 starting point.