Question 1

How much do I need to save each month to reach my goal?

Accepted Answer

It depends on your goal amount, how much you already have, your time horizon, and the return you expect. Your existing balance grows on its own, and your monthly contributions cover the rest. This calculator solves for the monthly amount that — with that growth — gets you to the target by your date.

Question 2

What return should I assume for a savings goal?

Accepted Answer

For a short-term goal (1–3 years) in cash or a high-yield savings account, assume a low, conservative rate. For a longer goal invested in a diversified portfolio, a higher assumption (e.g. 5–7%) may be reasonable, but with more variability. Try a few rates to see how sensitive your monthly number is.

Savings Goal Calculator