Savings Goal Calculator
Work backward from a target amount: tell it your goal, what you've already saved, and your timeline, and it tells you exactly how much to save each month to get there. No sign-up.
How you'll get there
Your contributions vs. growth from returns, year by year. Hover the chart for exact numbers.
How this calculator works
Most savings calculators start from a monthly amount and tell you where you'll end up. This one works the other way around: you tell it where you want to end up, and it solves for the monthly contribution that gets you there, accounting for your current savings and the growth your money earns along the way.
Already have a monthly amount in mind and want to see where it lands instead? Try the compound interest calculator, or if your goal involves dividend-paying investments specifically, the dividend reinvestment calculator models that separately.
A worked example
Say you want $1,000,000, you already have $20,000 saved, you have 25 years, and you expect a 7% annual return compounded monthly. This calculator says you'd need to save about $1,093 a month. Over 25 years that's roughly $347,931 of your own money contributed — the remaining $652,069 comes from investment growth compounding on top of it.
What if I already have enough saved to hit my goal without contributing more?
If your current savings alone are projected to grow past your goal by your target date, the required monthly contribution shows as $0 — you're already on track based on the assumptions you entered.
What return rate should I use?
For a savings account, use your account's actual APY. For long-term investing, many people use a long-run historical average (often cited around 7% after inflation for a diversified stock portfolio, or 4-5% for a more conservative mix) — but future returns are never guaranteed.
Does this account for inflation?
No — both your goal amount and the result are in today's dollars terms only if you've already adjusted your goal for expected inflation yourself. If your $1,000,000 goal is meant to have today's purchasing power in 25 years, consider using an inflation-adjusted (real) return rate instead of a nominal one.