Savings Goal Calculator
Estimate the monthly deposit needed to reach a target, or see how your current plan compares.
Currency formatting only; amounts are not converted. Returns are estimates, not guarantees.
Your savings plan
Monthly contributions are assumed at month end. Taxes, fees, and changing returns are not included.
Savings projection
Projected balance compared with your selected goal.
Goal progress breakdown
Yearly goal schedule
| Year | Total contributed | Projected balance | Gap / surplus |
|---|
Detailed Breakdown
Compare your planned monthly deposit with the amount needed to reach a target by a chosen date.
Inputs
Enter the goal amount, current savings, planned monthly contribution, expected annual return, and years until the target date. Monthly deposits are assumed at each month end; currency selection does not convert values.
Required deposit
The monthly rate is
i = (1 + annual return)1/12 - 1. For
n months, goal G, and current savings
S, the required deposit is
max(0, [G - S(1+i)n] * i / [(1+i)n -
1]). At 0% return, it is max(0, (G - S) / n).
Reading the results
Projected balance includes growth on current savings and monthly deposits. "On track" means the projection meets or exceeds the goal at the selected date. Gap/surplus is projected balance minus goal; required contribution is zero if current savings alone are projected to meet it.
Assumptions and limits
The return is treated as a steady effective annual rate converted to a monthly rate. Taxes, fees, inflation, withdrawals, and changing monthly or annual contributions are not modeled. Returns can vary, so treat the result as a planning estimate rather than a guarantee.
Examples
To reach 12,000 in one year from zero savings with a 0% return assumption, a month-end deposit plan requires 1,000 per month. A positive return changes the estimate, but is not guaranteed.
FAQ
What if current savings already exceed the goal?
The required contribution can be zero under the entered assumptions, though future withdrawals or a different goal date may change the plan.
When are monthly contributions deposited?
This estimate assumes month-end contributions.
Does the tool guarantee I will reach the goal?
No. Returns, fees, taxes, and contribution consistency can differ from the assumptions.
Related Calculators
- Savings Calculator — project an account balance from deposits.
- Budget Calculator — see how a planned deposit fits monthly cash flow.
- Retirement Calculator — project longer-term savings.
Internal links: test your monthly contribution in the Savings Calculator and compare affordability with the Budget Calculator.