Savings Goal Calculator

How to plan your savings goal

Enter the amount you want to save and the number of years you have. Add an expected annual return if you plan to invest, then the calculator shows exactly how much to set aside each month and how contributions and earnings build toward your goal.

Formula

Monthly amount = goal × i ÷ [(1 + i)ⁿ − 1], where i is the monthly rate and n is the number of months. With a 0% return, monthly amount = goal ÷ months.

Expected returns are assumptions only; actual investment results will vary and are not guaranteed.

Frequently Asked Questions

How is the monthly amount calculated?

It uses the annuity formula PMT = FV × i ÷ [(1 + i)ⁿ − 1], where FV is your goal, i is the monthly rate (annual return ÷ 12) and n is the number of months. With a 0% return it simply divides the goal by the number of months.

What return rate should I enter?

For a plain cash savings goal, enter 0%. If you will invest the money, enter a realistic expected annual return — but remember investment returns fluctuate and are not guaranteed.

How can I reach my goal faster?

Increase your monthly contribution, extend the timeframe, or earn a higher (realistic) return. Even small increases in the monthly amount compound meaningfully over several years.

Does this account for inflation?

No. The target is treated as a fixed future dollar amount. If you want to preserve purchasing power, set a goal that already accounts for expected inflation.