How is this different from the Investment Calculator?

The Investment Calculator projects forward from a contribution amount to a future value. This calculator works backward — from a target future value to the contribution amount needed to reach it.

What if I already have enough saved?

The calculator will show a contribution of $0 or a negative number, meaning your current savings alone are projected to reach (or exceed) your goal given the assumed return.

Savings Calculator

Find out how much you need to save each period to reach a specific savings goal, given your current savings and expected return.

Starting balance

Monthly contribution

Annual interest rate

Years

Future Balance

$32,703.47

Total Interest Earned

$7,703.47

How It Works

Solving for the required contribution

Given your current savings, target goal, expected rate of return, and time horizon, this calculator solves the compound growth formula for the one remaining unknown: the periodic contribution needed to close the gap.

Example Calculation

Starting with $5,000 and wanting $50,000 in 10 years at a 5% annual return, you'd need to save roughly $290/month.

Common Mistakes

Using an overly optimistic return rate, which understates how much you actually need to save.
Forgetting that this assumes a constant contribution and constant rate — real returns fluctuate year to year.

Frequently Asked Questions

How is this different from the Investment Calculator?: The Investment Calculator projects forward from a contribution amount to a future value. This calculator works backward — from a target future value to the contribution amount needed to reach it.
What if I already have enough saved?: The calculator will show a contribution of $0 or a negative number, meaning your current savings alone are projected to reach (or exceed) your goal given the assumed return.