Savings Goal Calculator

First, your target is adjusted for inflation over your timeframe (since prices rise, your goal in future dollars is higher than today's number). Then the future value of your starting balance is subtracted from that inflation-adjusted target, and the remainder is solved as a standard monthly annuity payment at your expected rate of return.

If you're saving for something whose cost rises with inflation (a home down payment, a big purchase, a wedding), $50,000 needed in 5 years costs more in future dollars than $50,000 today — the calculator inflates your target so you save enough in real terms.

For short-term goals (under 2-3 years), a conservative rate (high-yield savings/CDs, 4-5%) is safer since you can't ride out a market downturn. For longer-term goals, a diversified investment portfolio (historically 6-8% annualized) may be appropriate, but comes with volatility risk.

Enter it as your starting balance — the calculator grows that amount at your expected return first, then only asks you to save the remaining gap through monthly contributions.