Savings
Savings calculator
Plan your savings around two key questions: if you save a fixed amount every month, when will you reach your goal? And the other way around: how much do you need to save each month to get there on the timeline you want?
What do you want to calculate?
When I'll reach it
How much to save each month
Initial savings
$
Savings goal
$
Monthly savings
$
Annual return (optional)
%
The return your savings earn, if you invest them.
Resets these values back to their defaults.
Time to reach your goal
4 years and 9 months
May 2031
Estimated date
$19,100
Total contributed
$1,013
Returns earned
Saving $300 a month starting from $2,000, you'll reach $20,000 in 4 years and 9 months.
Progress toward your goal
Total savings
Contributed
Goal
How to read the result
The calculator answers two related questions: when you'll reach a goal if you save a fixed amount every month, or how much you need to save each month to reach that goal by a set date. The estimated date helps you put the goal on the calendar.
How it's calculated
We start with your initial savings and add your contributions month by month. If you enter an expected return, growth is applied each month too, which means you reach your goal sooner or need to contribute less.
A simple example
Say you want to save $20,000 in 5 years and already have $2,000 saved. The "How much to save each month" mode will tell you the monthly contribution you need. If you also expect a modest return, you'll see how that contribution shrinks thanks to compounding.
Frequently asked questions
How much should I save each month?
It depends on your goal and your timeline. With the "How much to save each month" mode, just enter the amount you want to reach and how long you have, and the calculator will tell you the monthly contribution you need.
Do I need to enter an expected return?
No. If you leave the return at 0%, the calculator assumes you're only adding your contributions. If you plan to invest your savings, you can add an estimated return to see how it shortens the time or lowers the contribution you need.
What's the difference between the two modes?
"When I'll reach it" starts from a fixed monthly contribution and calculates the time until your goal. "How much to save each month" starts from a timeline and calculates the monthly contribution you need. They're two sides of the same question.
Why does it say "out of reach"?
It means that, with the initial savings, monthly contribution, and return you entered, the goal isn't reached within a 100-year horizon. Try increasing the contribution, the initial savings, or the expected return.
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