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Savings Goals Calculator

Read the original savings goals calculator guidance with clear warnings and links to current official information.

1

Enter a scenarioUse your own estimates and time period

2

See the resultUpdates immediately as numbers change

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Read the assumptionsKnow what is and is not included

Interactive calculator

Add your numbers

Estimate the monthly amount needed to reach a savings target.

Planning estimate

Estimated monthly saving needed

$360.41
Goal
$30,000
Current savings at goal date
$6,105
Time available
60 months

Assumptions: Assumes deposits at the end of each month and a constant rate. Add a margin for changing costs or returns.

Migrated from the original site

Original guidance, with a current-information warning.

Time-sensitive
Some details in this legacy article may no longer be current

Dates, dollar amounts, eligibility rules, rates and named programmes should be checked against the current official sources below before you act.

Read the migrated legacy article

What will it take to help reach your savings goals? This financial calculator helps you find out. Enter in your savings plan and view graphically your financial results. Click the report button to get more information about your plan, and what you can do to make sure that it is on track.

Definitions

Years to save
The number of years you have to save.

Savings goal
The amount you wish to have in savings at the end of this savings plan.

Amount currently saved
Total you currently have saved toward this savings goal.

Monthly savings
The amount you will contribute each month to your investments. This calculator also assumes that you make your contribution at the beginning of each month.

Expected Rate of Return
This is the annually compounded rate of return you expect from your investments. For the purposes of this calculator, taxation is not factored into the results. If you pay taxes on the interest, dividends or capital gains from these investments you may wish to enter your after tax rate of return.

The actual rate of return is largely dependant on the type of investments you select. From January 1970 to December 2003, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.7% per year. During this period, the highest 12-month return was 64%, and the lowest was -39%. Savings accounts at a bank pay as little as 1% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.

Expected Inflation Rate
What you expect for the average long-term inflation rate. This has been calculated by the Consumer Price Index from 1925 to 2002 to be 3.1%.
Check current information

Migrated 2026-08-14 · 326 words retained · Prohibited branding and links removed

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