Two questions, one calculator
Most savings goals start with one of two questions. How much do I need to put away each month to have $X by a certain date? Or, when will I get there if I keep saving what I save now? Choose the mode, enter your numbers, and the other side is worked out for you, with a date you can put in the calendar.
| Goal | Time | Start | Rate | Needed per month |
|---|---|---|---|---|
| $10,000 | 12 months | $0 | 0% | $833.33 |
| $10,000 | 12 months | $0 | 4% | about $818 |
| $20,000 | 36 months | $2,000 | 4% | about $465 |
| $50,000 | 60 months | $5,000 | 4% | about $662 |
Choosing a rate
The rate is the part you control least, so we never pick it for you. For money in a savings account, use what the account pays today. For anything invested, remember that returns change from year to year and can be negative. Using 0% shows the plain amount you need to save, which is the safest plan.
What this is and is not
This is arithmetic on your own assumptions. It does not include taxes, fees or inflation, and it is not advice about where to keep your money. Investor.gov, run by the US Securities and Exchange Commission, has free guides if you want to learn more.
What people ask next
- How much will my savings grow? shows the year-by-year path.
- What do I really earn per hour? shows how many working hours a goal costs.
How we calculate
Monthly deposit = (goal − starting amount × (1 + r)ⁿ) × r ÷ ((1 + r)ⁿ − 1), where r = yearly rate ÷ 12 and n = months. With r = 0: (goal − start) ÷ months.
- Interest compounds monthly; deposits land at the end of each month.
- The rate is your assumption. Savings rates change and investments can lose value.
- Inflation and taxes are not included.
Sources: Investor.gov (SEC) — Compound interest calculator and glossary.
Every formula is checked by automated tests. Methodology · Updated