Why does the monthly amount drop when I add a return?

Compounding does some of the work for you — the higher the return, the more your contributions and balance grow on their own.

What if I already have enough saved?

If your current savings will grow past the goal on their own, the required monthly contribution is $0.

Savings Goal Calculator

Find out how much to save each month to hit a goal by a target date.

UPDATED · MAY 2026

Savings goal

Already saved

Annual return

Timeframe

To reach $20,000 in 3 years

$524/mo

YOU CONTRIBUTE$18,857

GROWTH$1,143

Monthly

$524

Total saved

$18,857

From growth

$1,143

How to use the Savings Goal Calculator

01
Set your goal. The amount you want to reach.
02
Enter what you've saved. Current savings grow with returns toward the goal.
03
Add return and timeframe. See the monthly contribution required.

How is it calculated?

We grow your existing savings at the monthly return over the period, then solve the future-value annuity formula for the monthly deposit that covers the remaining gap. Higher returns and existing savings both reduce the monthly amount you need to add.

Frequently asked

The questions readers ask most about the savings goal calculator.

For cash/high-yield savings, a few percent; for a diversified long-term portfolio, many people model 5–7% after inflation. Be conservative for short timelines.

LEARNCompound interest explained: how money grows over time

How to use the Savings Goal Calculator

How is it calculated?

Frequently asked

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