To reach $100,000 in 10 years at 3% a year, you need to save $716 a month; with no interest at all, it takes $833 a month.
| Goal | 1 year | 2 years | 3 years | 5 years | 10 years | 15 years | 20 years | 30 years |
|---|---|---|---|---|---|---|---|---|
| $5,000 | $411 | $202 | $133 | $77 | $36 | $22 | $15 | $9 |
| $10,000 | $822 | $405 | $266 | $155 | $72 | $44 | $30 | $17 |
| $15,000 | $1,233 | $607 | $399 | $232 | $107 | $66 | $46 | $26 |
| $20,000 | $1,644 | $810 | $532 | $309 | $143 | $88 | $61 | $34 |
| $25,000 | $2,055 | $1,012 | $665 | $387 | $179 | $110 | $76 | $43 |
| $50,000 | $4,110 | $2,024 | $1,329 | $773 | $358 | $220 | $152 | $86 |
| $75,000 | $6,165 | $3,036 | $1,994 | $1,160 | $537 | $330 | $228 | $129 |
| $100,000 | $8,219 | $4,048 | $2,658 | $1,547 | $716 | $441 | $305 | $172 |
| $250,000 | $20,548 | $10,120 | $6,645 | $3,867 | $1,789 | $1,101 | $761 | $429 |
| $500,000 | $41,097 | $20,241 | $13,291 | $7,734 | $3,578 | $2,203 | $1,523 | $858 |
How it is computed
Payment = goal × i ÷ ((1 + i)^n − 1), with i the annual rate ÷ 12 and n the number of months; at 0%, it is simply goal ÷ n. Deposits are made at the end of each month, starting from zero.
FAQ
What if I already have some savings?+
Enter them in the calculator: they grow on their own and lower the monthly amount needed.
Which rate should I use?+
Use what the money will really earn after fees: a savings account rate for short goals, a cautious investment return for goals ten years or more away.