Savings goal calculator
Work backwards from a savings target or forwards from a recurring contribution, with contribution timing and the modeled path shown.
Fixed-rate illustration only. No volatility, tax, fees, irregular cash flows, guarantee or product recommendation.
Year-end path
| Year | Balance | Contributed | Modeled growth |
|---|---|---|---|
| 1 | $13,308.22 | $12,963.26 | $344.96 |
| 2 | $21,948.77 | $20,926.52 | $1,022.25 |
| 3 | $30,934.94 | $28,889.78 | $2,045.16 |
| 4 | $40,280.56 | $36,853.04 | $3,427.51 |
| 5 | $50,000 | $44,816.3 | $5,183.7 |
Included
- Solve recurring contribution or first whole period to target
- Monthly or annual contributions
- Beginning- or end-of-period timing
- Fixed return assumption and year-end schedule
Not included
- Guarantees, volatility or market sequence
- Tax, fees or product recommendations
- Changing returns or irregular contributions
What this means
Contribution mode rearranges the future-value formula to solve the equal payment needed at each chosen period. Time mode applies the same timing convention one period at a time until the target is reached.
Beginning-of-period contributions receive one additional modeled period of growth. The return remains the same in every period, so the result is an illustration rather than a forecast.
Formula & worked example
periodic rate = (1 + annual return)^(1 ÷ periods per year) − 1 required contribution = (target − future value of current savings) ÷ annuity factor
$5,000 saved, $50,000 target, 5 years and 4% annual return
- Frequency
- Monthly
- Timing
- End of month
The calculator solves one equal monthly contribution and verifies it by simulating the full 60 periods.
How this calculation works
The calculation follows the formulas, definitions and assumptions explained on this page. The references below support the method and any stated boundaries.
Official sources
- Investor.gov — Savings Goal Calculator — Savings-goal user job and expected scenario inputs
- OpenStax — annuities — Periodic cash-flow timing and future-value formulas