Find out how much to save each month to reach a specific goal by a target date.
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Required Monthly Savings
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Total You Will Contribute—
Formula
Monthly savings is solved so that the starting balance plus contributions, compounded at the expected rate, reaches the goal by the target date.
Example
Reaching a $20,000 goal in 5 years from $2,000 today at 4% growth requires saving roughly $270 per month.
Not tax or financial advice. This calculator provides general estimates based on published 2026 figures. Always confirm important figures with the IRS, SSA, your state tax agency, a licensed lender, or a qualified professional.
Frequently Asked Questions
What if I want to reach my goal sooner?
Reducing the number of years increases the required monthly contribution, since there is less time for growth to help.
Should I assume investment growth or just a savings rate?
Use a savings account rate for near-term goals, and a more conservative investment return only for goals several years or more away, given market risk.