Calculator

How much will I need to save for a major purchase?

This calculator computes how much money you will need to save monthly in order to reach a desired savings goal.

All fields are required.

After-Tax amount savings goal

Amount you have now

How long will you save

savings term in months or years Months Years

Expected interest rate

Income tax rate

Calculator Results

You need to save $3,849.63 each month for 5 years in order to save $250,000.00 after-tax.

Calculator tips

This calculator uses monthly compounding and monthly deposit frequency.

In this calculator, taxes are computed at the end of the savings term using the Income tax rate you entered. Income tax rates may further affect the compounded rate of return depending upon the type of savings account you have.

The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.