Tools / Savings Goal Calculator
Savings Goal Calculator
Two answers on one page: how much you need to save each month to hit a target, and how long your current savings rate will take. Everything runs in your browser.
Assumes monthly deposits at the end of each month. Any currency works; results use the same unit as your input.
| Year | Deposited | Growth | Balance | % of goal |
|---|
The two formulas
- r is the monthly rate (annual ÷ 12), n the number of months, C the monthly deposit.
- Deposits happen at the end of each month — the conservative assumption, so the real result is usually slightly better.
- Taxes, fees and inflation are not modelled. Use a real, net return for planning.
Why the return rate changes the answer so much
At 0% return, saving 1,000,000 over 20 years requires 4,167 a month. At 5%, the required amount falls dramatically, because the growth does part of the work — and the longer the horizon, the more of the total comes from returns rather than deposits. That is why starting early beats saving harder later: it buys more compounding years, not more discipline.
FAQ
My required saving looks impossibly high — what now?
Three levers: extend the time frame, lower the goal, or raise the expected return (which means more risk). The calculator is best used to test which lever is realistic.
Should I use a gross or net return rate?
Net of fees and taxes, and ideally after inflation. If you plan in today's purchasing power, subtract inflation from the return.
What if I save yearly instead of monthly?
Divide your yearly amount by 12 and enter that. The result is slightly conservative because monthly deposits compound sooner.
Is my data uploaded?
No. Everything is calculated in your browser and nothing is stored or sent.