Savings Goal Calculator — $100.000 at 7% for 10 Years
Calculate how much you need to save monthly to reach your savings goal.
Inputs
Your savings goal amount
Expected annual return percentage
Time to reach your goal
How often you'll contribute
Savings Strategy Tips
- Model conservative returns: Run a lower return rate scenario alongside your target to build a buffer for market volatility.
- Plan for irregular contributions: If you receive bonuses or lump sums, input an annual frequency and adjust contributions to reflect those injections.
- Track progress checkpoints: Use the progress metric to set mini-milestones and keep savings motivation high over long timelines.
Frequently Asked Questions
How much should I save monthly to reach my goal?
The required monthly savings depends on your target amount, expected return rate, and time horizon. Higher returns and longer timeframes reduce the monthly contribution needed. Use our calculator to find the exact amount for your situation.
What is a realistic expected return rate?
Expected returns vary by investment type. Conservative investments may yield 3-5%, while diversified stock portfolios historically average 7-10% annually. Consider your risk tolerance and investment strategy when setting this rate.
Should I save monthly or annually?
Monthly contributions generally result in better outcomes due to more frequent compounding. However, the difference depends on your return rate and contribution amount. Both strategies can work if you maintain consistency.