Enter a target amount, your current savings, an expected annual return, and a time horizon — and this calculator tells you exactly how much to save each month to reach your goal. It accounts for compound growth on both your existing balance and each new contribution.
The math uses the future value of a series formula: FV = PV × (1+r)n + PMT × [((1+r)n − 1) / r], where PV is your starting balance, PMT is the monthly contribution, r is the monthly rate, and n is the number of months. The calculator solves for PMT — the exact monthly amount needed to hit your target.
Common use cases: emergency fund (3–6 months of expenses), home down payment, education savings, or a 5-year wealth milestone. Use 4–5% for cash or CDs, 6–8% for a diversified investment portfolio.
What return rate should I enter?
Use 4.00–4.20% for high-yield savings accounts or CDs in 2026. Use 6–7% for a balanced investment portfolio. Use 0% if the money will sit in a standard checking or savings account earning negligible interest.
Does this calculator account for inflation?
Not directly. To inflation-adjust, subtract your expected inflation rate from your return rate. If you expect 7% returns and 3% inflation, enter 4% as your net return — this gives you a goal figure in today’s purchasing power.
What if I can’t hit the monthly target?
Extend your timeline or lower the goal. Even small consistent contributions compound significantly over time. $200/month at 7% for 30 years grows to over $227,000 from just $72,000 in total contributions.
How often should I recalculate?
Recalculate whenever your income changes, your rate environment shifts meaningfully, or you’re 12+ months into a multi-year plan. Small course corrections early matter more than precision later — the math compounds in your favor.