Is my savings plan on track?

In addition to your planned monthly savings, you may need to set aside some additional money today to meet your future goal. Use this calculator to determine the starting amount required to meet your saving goal.

Savings

Planned monthly savings amount ?

How much you intend to set aside each month.

Annual interest rate on savings ?

The yearly rate your savings are expected to earn, compounded monthly.

Future savings goal ?

The amount you want to have saved by the end of the term.

Number of months until funds are needed (15 years = 180 months) ?

How long you have to reach your goal (15 years = 180 months).

Enter your values and select Calculate.

The ending balance is the headline figure here: it's what your plan is projected to reach by the end of the term, combining any lump sum needed today, your ongoing monthly deposits, and the interest earned along the way. If it lines up closely with your goal, the plan as entered gets you there; if it falls short, the lump sum figure shows what it would take to close the gap today.

Two inputs move this result the most: your planned monthly savings amount and the number of months until you need the funds. A small increase in either compounds meaningfully over a long enough term, often more than chasing a slightly higher interest rate.

This projection assumes a steady interest rate and uninterrupted monthly deposits. It doesn't account for taxes on interest, account fees, inflation eroding the goal's real value, or changes in your income or expenses along the way. Treat the numbers as a planning estimate, not a guarantee.

It's worth revisiting this calculation whenever your monthly savings capacity changes, your goal shifts, or your interest rate does — and at least once a year as a check-in. Having a concrete number to work toward, and checking it periodically, is most of the work; the rest is staying consistent.

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.