Calculator

Savings goal calculator

Whether you're saving for a house, a car, or a wedding, this calculator finds the monthly contribution that gets you there on time.

Updated July 2026

Goal amount

Currently saved

Years to save

Expected annual return

Monthly amount needed

$558

Projected value of current savings

$12,518

Total to contribute over term

$33,493

Reaches $50,000 in 5 years

How it works

PMT = (Target − P × (1 + r)^t) × r / ((1 + r)^t − 1) — solving compound growth for the required contribution

Enter your target amount and target date.
Enter your current savings toward the goal.
Enter your expected annual return — cash accounts around 4–5%, invested balances 5–7% real.
The calculator returns the monthly amount needed to hit the goal on time.

Worked examples

$50,000 down payment in 5 years, $10k saved, 4.5% APY: about $618/month needed.
Same goal at 3.5%: about $647/month — the rate matters, but the monthly amount matters more.
Extending the timeline by 2 years drops the monthly requirement by roughly 30%.

Frequently asked questions

What return should I use for short-term savings?

Under 3 years: high-yield savings rate (currently ~4–5%). 3–10 years: a conservative blend of savings and bonds (~4–6%). Over 10 years: mostly stocks (~5–7% real).

Should I invest short-term savings?

For money needed within 3 years, generally no — a bear market can arrive at the worst time. High-yield savings or short-term Treasuries are safer choices.

What if I fall behind on a goal?

Extend the timeline before shrinking the target. Slower progress toward a real goal beats abandoning it for a smaller one you don't actually want.

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