Right Calc Calculators

Finance

Savings goal calculator

How much to save each month to reach your goal in the time you choose.

The fields start with an example. Replace it with your own numbers.

Optional. Starts earning in the first month.

Back to example

Monthly saving needed

$435.45

To reach $100,000.00 in 10 years earning 10% per year, starting with $5,000.00, save $435.45 a month.

How this is calculated →
  • Total contributed$57,254.34
  • Total interest$42,745.66

Does not account for taxes, fees or inflation: to keep purchasing power, use a real rate (above inflation).

How the monthly amount is calculated

It is the compound interest formula with contributions, solved backwards: saving = (goal − start × (1 + i)ⁿ) × i ÷ ((1 + i)ⁿ − 1), with i the monthly rate and n the number of months. Contributions at the end of each month.

Example: to reach $100,000 in 10 years at 10% a year, starting with $5,000, you need about $435 a month.

Frequently asked questions

What rate should I use?

A conservative estimate of the investment's net return. To think in today's money, subtract inflation (a real rate).

What if I raise my contributions over time?

The calculator assumes a fixed amount. Raising it gets you there sooner or with more.

Does my current balance count?

Yes. It earns from the first month and lowers the monthly amount needed.

Related calculators

  1. Compound interest Investment with monthly contributions
  2. Loan payment Monthly payment and schedule
  3. Simple interest Interest and total (I = P × r × t)
  4. Equivalent interest rate Monthly ↔ annual rate
  5. Financial calculator N, I/Y, PV, PMT and FV
  6. Marketplace profit Profit per sale and target price
  7. Inflation Dollar value over time, 1913 to today
  8. Margin and markup Profit margin and selling price