How much do I need to deposit monthly to reach my savings goal?

This calculator will tell you how much you will need to deposit to reach a savings goal within a certain time period based on current balance and rate.

This tool calculates the future value of your savings based on the information that you provide. It also allows you to calculate in reverse by editing the savings goal and selecting an input - current savings amount, additional deposit amounts, savings time frame, or annual rate of return - to be adjusted by the tool. In other words, for a particular savings target amount, assuming all other fields remain unchanged, you can work backwards to solve any of the following questions:

  • How much will I need to invest upfront?
  • What will I need to save on a recurring basis?
  • How long will I need to save?
  • What annual rate of return will I need to earn?

The calculator assumes you save with a tax advantaged account.*

*You may wish to consult a tax advisor regarding tax-advantaged account restrictions.