Savings Goal Calculator
Whether it is a down payment, a car, or a college fund, this calculator works backward: given your target, timeline, and expected return, it tells you exactly how much to save each month.
How this calculator works
The calculator first grows your starting balance to the target date, then solves for the monthly contribution that covers the remaining gap, assuming returns compound monthly. Starting earlier shrinks the monthly amount dramatically, because returns — not contributions — fund a large share of the goal.
Frequently asked questions
Why does starting early matter so much?
Every month of compounding earns interest on previous interest. Starting five years earlier can cut your required monthly contribution by 20–30% for the same target, because your money does the working instead of your paycheck.
Should I use my expected return or be conservative?
Use a conservative rate (4–5%) for short horizons and essential goals, because a market dip near the deadline can derail the plan. A higher assumed return means more risk that the actual result falls short.
What about inflation?
A dollar today buys more than a dollar in five years. If your goal is priced in today's dollars — like a down payment on today's home prices — either inflate the target or use an inflation-adjusted (real) return rate.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect 2026 rules and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: IRS.gov · 2026 limits per IRS tax inflation adjustments.