Savings Goal Calculator
Find the monthly amount you need to save to reach a target by a chosen date.
Want to understand the concept, not just the number? Read The Real Cost of a Daily Habit .
How it's calculated
The calculator works backward from your goal. It grows your current savings forward to your target date, then solves for the level monthly contribution whose compounded value fills the remaining gap.
For example, to reach $120,000 in 10 years with nothing saved yet and no growth, you would need $1,000 a month. Add investment growth and the required amount falls, because compounding does some of the work for you.
The two biggest levers are time and return. Starting earlier, or earning a higher return, both lower the monthly amount you need. Pushing the deadline out even a few years can make a large goal feel much more reachable.
Assumptions
- Returns compound monthly, and the solved contribution is made at month end.
Last updated: 2026-08-07
These assumptions follow our general methodology.
Frequently asked questions
What if my current savings already reach the goal?
Then the required contribution is zero, because compounding alone gets you there. You can lower your target or shorten the timeline to see a positive number.
What return should I assume?
For a short goal held in a savings account, use a low, safe rate. For a goal many years away that you plan to invest for, a diversified long-run return is more realistic, though it carries more risk.
How is this different from the Time to Goal calculator?
This one fixes the date and solves for the monthly amount. Time to Goal fixes the monthly amount and solves for how long it takes. Use whichever matches the number you already know.