Work backwards from a target

Savings Goal Calculator

Tell us your target balance, how long you have, and your expected return — we’ll show you exactly how much to save each month.

Define Your Goal
Required contribution updates as you type.
5 yrs
5.0%
Sponsored

Your Plan

To reach $50,000 in 5 years at 5% return.

Monthly Contribution Needed
$697
Annual Equivalent
$8,370
Total Contributed
$41,849
Projected at Goal
$50,000
includes interest earned
Path to Your Goal
Year-by-year balance growth using the required monthly contribution.

Get a Free Personalized Savings-Plan Report

A tailored PDF showing the exact monthly contribution to hit your target, plus a year-by-year path to your goal.

By submitting, you agree to our educational-use disclaimer. Your info is never sold.

How it works

Working backwards from a target

Future value

Define the dollar amount and the deadline. Everything else flows from those two inputs.

Compounding helps

At higher assumed returns, you need to contribute less per month to hit the same target.

Existing savings

Money you've already saved keeps compounding too — it shrinks the gap you have to close.

This calculator solves the future-value-of-annuity formula for the monthly payment:

PMT = (FV - P(1+r)ⁿ) × r / ((1+r)ⁿ - 1)

Where FV is your goal, P is current savings, r is the monthly rate (annual / 12), and n is the number of months. If your existing savings will already grow past the goal at the assumed return, the required contribution drops to $0.

Savings Goal FAQ