CalcQuick · Savings goal
Savings Goal Calculator
Set a target, current balance and time horizon. The calculator solves for a fixed monthly contribution and separates your deposits from estimated interest.
Reviewed and updated:01
How to use this calculator
- Enter your values using the units shown.
- Review the result, which updates instantly.
- Check the formula and assumptions before using the number for a decision.
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Formula and assumptions
Let i be the equivalent monthly rate and m the number of months. End-of-month contribution = (Goal − P(1 + i)^m) × i ÷ ((1 + i)^m − 1). When i = 0, divide the remaining goal by m.
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Worked example
To grow $10,000 to $100,000 in 10 years at a nominal 5% compounded monthly, the estimated month-end contribution is about $537.92.
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Sources and scope
These references support the formula or category guidance. CalcQuick remains responsible for the calculator implementation.
- Investor.gov Savings Goal CalculatorU.S. Securities and Exchange Commission
FAQ
Frequently asked questions
What does this savings goal calculator solve?
It estimates the fixed monthly contribution needed to reach a target from a starting balance, time period, annual rate and compounding frequency.
What if my starting balance already reaches the goal?
The required contribution is zero when the projected starting balance alone reaches or exceeds the target.
Does the estimate include taxes, fees or changing rates?
No. It assumes the rate stays constant and excludes taxes, fees and market changes.