Finance
Estimate the monthly contribution needed to reach a future savings target.
Results update as you type. No calculate button. All calculations run locally in your browser.
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| Amount | |
|---|---|
| Current amount grown to the goal date | — |
| Gap the contributions must cover | — |
| Total monthly contributions | — |
| Interest on the plan | — |
Bars are scaled to the target. Interest on the contributions is the part of the target neither your current savings nor your monthly payments cover directly.
| Year | Balance |
|---|
Contributions are end-of-month and the rate is fixed. The final year lands on the target when the gap is positive.
Monthly rate = annual rate ÷ 12. Grown current amount = current amount × (1 + monthly rate)months. Required contribution = (target − grown current amount) ÷ [((1 + monthly rate)months − 1) ÷ monthly rate]. If the grown current amount already reaches the target, the required contribution is $0.
Target $50,000 in 5 years, starting from $5,000 at 3%: the $5,000 grows to $5,808.08, leaving a gap of $44,191.92. Spread over 60 end-of-month contributions at 0.25% a month, the required contribution is $44,191.92 ÷ 64.65 = $683.59 a month.
The rate is assumed constant, contributions are never missed, and taxes, fees, and inflation are ignored, so the target is in nominal dollars. If the current amount already grows past the target, no contribution is required and the plan is already funded on these assumptions.
Then the required contribution is $0. The calculator shows the grown current amount above the target, and you do not need to add anything on these assumptions.
Because interest covers more of the gap. But a higher assumed rate is also a riskier assumption: if the real return is lower, the plan falls short.
End of the month, matching the source calculator. Starting a month earlier would lower the required amount slightly.
This calculator works in nominal dollars. If the target is a future price, enter the inflated future figure, not today's price.
Extend the time horizon, raise the assumed rate only if you can justify it, or lower the target. The calculator shows the trade directly when you change years.
Results are estimates only and do not constitute professional advice.