Savings Goal Calculator
Set a financial target and find out exactly how much you need to save each week or month to reach it. Works backward from your goal to calculate the required contribution.
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Required periodic contribution (annuity solved for PMT)
Rearranged future-value-of-annuity. FV is the goal, P is your starting balance, r is the per-period rate, t is total periods. The calculator handles both lump-sum-only and contribution-only cases.
- 01A constant return rate across the entire savings horizon.
- 02Contributions occur at the end of each period and are constant in nominal dollars.
- 03Compounding happens at the same frequency as the contribution cadence.
- 04Returns are pre-tax. In a taxable account, multiply the rate by (1 − marginal tax rate) for a more conservative result.
- 05The goal amount is expressed in today's dollars. To target a future cost, inflate the goal first.
- 01Reality has variable returns. Aim for a contribution 10–20% higher than the calculator suggests to absorb shortfalls.
- 02The calculator does not enforce that the contribution be affordable from your income — sanity-check against your real budget.
- 03Tax-advantaged accounts (401(k), Roth, ISA) effectively raise your return by removing the drag of taxes on dividends and gains. Real after-tax returns are easier in those accounts.
- 04No account is taken of one-time future deposits (windfalls, bonuses). Run the calculator multiple times with adjusted starting balances if you expect them.
How much do I need to save per month to reach $1 million?
At a 7% real return, saving roughly $700/month for 30 years gets you to $1M. At $1,000/month, ~25 years. At $1,500/month, ~20 years. Lower the return assumption to 5% and the monthly numbers climb by 30–40%.
Should I include my starting balance?
Yes. A $20,000 head start compounded at 7% over 25 years becomes ~$108,000 by itself, which significantly reduces the periodic contribution required.
How do I plan for a house down payment in 5 years?
For short horizons (under 5 years), use a conservative return like 3–4% (high-yield savings, short-term bonds, or a money-market fund). Stock-market returns are too volatile over short windows — a 30% drawdown in the wrong year can wreck a short-term goal.
Is the result in today's dollars or future dollars?
It is in whatever dollars your inputs are in. If your goal is $1M in today's purchasing power, inflate it by your assumed inflation rate over the horizon before entering. Example: targeting $1M today over 30 years at 3% inflation means entering a future goal of $1M × (1.03)^30 ≈ $2.43M.
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