Savings Goal Calculator

See how long it takes to reach your goals.

How did we calculate your savings goal?

The Savings Goal calculator helps you calculate the monthly contribution you need to make in order to reach your specified savings goal within a certain time frame and at a certain interest rate. Here is a brief explanation of each field:

Target Amount

This field represents the total amount you aim to save.

Time Horizon

This is the length of time over which you plan to save towards your target amount. This field can be specified in either months or years.

Interest Rate

This is the annual interest rate you expect to earn on your savings.

Results

After inputting the above fields, you can click on the Calculate Savings Goal button. This will calculate the monthly contribution you need to make to reach your savings goal within the specified time horizon at the given interest rate. The results will display the amount you need to save each month to reach your target. Please note that this calculator assumes that interest is compounded monthly, and that contributions are made at the end of each month. Actual results may vary depending on the exact timing of contributions and interest rate changes. This calculator should be used as a guide only. Always consult with your financial advisor or a professional for precise information.

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