How much should I save each month?

Find how much to save each month to hit a dollar goal by the date you pick.

Your inputs

About this calculator

Find monthly savings needed to hit a future dollar goal.

Your information

Enter your best estimates below.

Goal in today’s dollars (college, home, retirement nest egg).
Years until you need the money.
What you have saved toward this goal already.

How we run the estimate

Change return and inflation below. Your goal, timeline, and current savings stay in the panel above.

Expected average yearly investment growth.
7.0%
2.5%
Goal amount in the future
Your target rises 2.5% per year so it stays in tomorrow's dollars
When contributions count
End of each month
Raises to monthly savings
None — flat contribution each year
Monthly savings shown
Calculated to hit the inflation-adjusted goal

Your results

Goal achievable

What it means

The monthly savings shown should reach your goal amount by your target date, based on your inputs.

How we chose it

We solve for the monthly amount that builds your current savings plus new contributions to your inflation-adjusted goal. This tag appears when that path reaches at least 95% of the goal.

Required monthly savings

$2,021.06

Future goal: $1,853,944. Projected balance: $1,853,948.

Future goal value

$1.9M

Total contributions

$606K

Balance growth over time

  • Straight-line path to goal
  • Your projected balance
1234567891113151719212325Year$0$500K$1.0M$1.5M$2.0M

Breakdown at goal date

Money already savedContributionsGrowth$0$300K$600K$900K$1.2M

Beyond this calculator

Hitting one savings target is part of a broader strategy

This calculator solves for monthly savings toward a single dollar goal. A complete Retirelens plan also prioritizes:

  • Which account type captures the best tax advantages
  • Multiple goals happening at once—retirement, education, or a home
  • Inflation on what the goal must buy when you need the money
  • Raises, employer match, and irregular contributions over time

Free to startNo credit card required

Interpretation

What this means

Planning context for the estimates above. Not tax, legal, or investment advice.

To reach $1,853,944 in 25 years (inflation-adjusted from $1,000,000 today at 2.5% per year), save $2,021.06/month.

Methodology

How this calculator works

The rules and math behind this estimate.

Each month, the balance grows at the selected annual return (compounded monthly). If contributions are at the beginning of the month, they earn a full month of interest that period; end-of-month contributions are added after growth.

The required monthly savings is solved numerically to match the inflation-adjusted future target.

Help

Frequently asked questions

Straight answers to common questions about this calculator.

How much do I need to save each month?

It depends on your goal amount, how long you have, what you already saved, and the return you assume. This tool figures out the monthly number for you.

What if I raise my savings each year?

Many people save a little more each year as pay goes up. Even small yearly increases can lower how much you need to save at the start.

Should I count inflation?

Yes, if your goal is in today's dollars. Future dollars buy less, so you may need a higher target than it looks like today.

What return rate should I use?

Use something realistic for how you invest. Long-term stock-heavy plans often use about 6–8% before inflation; safer mixes use less. When unsure, use a lower rate.

Your full retirement picture

Retirement is more than money

Free to startNo credit card required

A good retirement plan covers money, health, how you spend your time, people you care about, and what you pass on. That is how Retirelens looks at the full picture.

Finance

Know where you stand and what to do next with your money.

74% of planners reported satisfaction with retirement income vs. 43% of non-planners (Goldman Sachs)

Health

Secure solid coverage, stay ahead with preventive care and healthy habits a staple.

68% of adults ages 50–64 said they were concerned that federal policy changes could affect their health insurance coverage. (University of Michigan)

Purpose

Shape days you look forward to, with steps to get there.

Research shows that a stronger sense of purpose is associated with lower mortality risk among adults over age 50. (American Medical Association)

Connections

Strengthen relationships and build a support circle.

A longitudinal study of adults aged 65+ found that older adults with more diverse social networks had a lower risk of death and better cognitive and physical function than those with less diverse networks. (Chico Health Aging Project)

Legacy

Organize your assets and document so your family isn't left guessing.

Without a proper estate plan, more than half of families experience disputes or have assets end up under court control. (LegalShield)