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MONEY TOOL

Savings Goal Calculator

Estimate how much you may need to save each month to reach a target amount over a chosen period.

Your savings goal

Change the inputs to see an illustrative estimate.

ESTIMATED MONTHLY SAVING
$0
Amount to save each month
Total monthly contributions$0
Estimated growth$0
12%growth
Starting + saving $0Growth $0
Illustrative calculation only. Returns are assumptions and are not guaranteed.
SAVINGS JOURNEY

How you could reach your goal

ILLUSTRATIVE

How this calculator works

The calculator estimates the monthly amount needed to reach your target after accounting for your current savings and an illustrative annual return.

Important assumptions

  • The annual return is an illustrative assumption, not a forecast.
  • Monthly savings are assumed to be added at the end of each month.
  • Taxes, fees and changes in return are not included unless explicitly stated.
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How the monthly savings target is estimated

The calculator projects the current balance forward using the annual return divided into monthly periods, then solves for a fixed end-of-month contribution that reaches the target after the selected number of months. If the assumed return is zero, it divides the remaining goal by the number of months. The model assumes a constant rate and regular contributions.

Estimated growth is the projected ending balance minus the starting savings and total contributions. Because the return is only an assumption, a real savings or investment account may not follow this path.

The result excludes taxes, fees, inflation, withdrawals and missed contributions. If your current savings already meet or exceed the target, no additional monthly contribution is required by this simplified model.