Savings Goal Calculator
Work backward from a target: enter what you want to have and when, plus any starting balance, and get the monthly contribution that gets you there.
Monthly amount to reach your goal
Example: $50,000 in 5 years from $5,000 at 4% → $662.08/mo.
Working backward from the goal
Most calculators ask what you'll end up with; this one asks what it takes to get there. In the worked example — reaching $50,000 in 5 years, starting from $5,000, at a 4% return — the answer is $662.08 a month. Your starting balance grows to about $6,105 on its own, and the monthly contributions fill the rest. Every figure is computed by the same tested engine as the calculator above.
Match the return to the timeline
The right return assumption depends entirely on how soon you need the money. For a short goal — a car, a wedding, an emergency fund — a market downturn right before the deadline is a real risk, so a savings account rate (or 0%) is the honest input. For a goal a decade or more away, a diversified investment return is defensible. Short horizon, low risk; long horizon, more room to let growth do the work.
Contribution and time trade off
If the required monthly amount is more than you can manage, you have two dials: extend the timeline or lower the goal. Extending the deadline helps twice over — smaller required contributions and more time for compounding — which is why starting a goal earlier, even with small amounts, beats scrambling to catch up later.
Frequently asked questions
How is the monthly amount calculated?
The calculator grows your starting balance at the assumed return, works out how much of the goal that growth covers, and solves for the level monthly contribution whose compounded value fills the remaining gap by the target date. It is the future-value annuity formula run in reverse.
What return should I use for a savings goal?
It depends on the timeline. For a goal a year or two away, keep money in cash or a high-yield savings account and use a low rate (or 0% to be safe) — you cannot afford a market dip right before you need it. For goals many years out, a diversified investment return is reasonable. Short horizons favor safety over growth.
What if I already have enough?
If your starting balance alone grows past the goal by the target date, the calculator says no additional monthly contribution is needed and shows what the balance reaches on its own. You can then aim for a larger goal or a shorter timeline.
Does it account for inflation?
No — the target is treated as a fixed dollar amount. If your goal is years away and represents a real cost (a home down payment, tuition), consider padding the target to reflect how much that cost may rise by the time you get there.
Not financial advice: a general educational estimate that assumes a constant return and a fixed-dollar goal (no inflation adjustment). Values are processed locally in your browser and never transmitted. See the methodology page.