Have a goal for the amount of money you want in your savings or retirement account?
This calculator will tell you exactly how much you need to put away each month.
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Retirement Goal Example:
John is a 20-year-old college student that wants to start planning for retirement now. He wants to have $1,000,000 in the bank when he is 65, which seems unattainable to him right now. He opens up a Roth IRA with $5,000 that he has saved up and invests it wisely, making 8%. Here is what that would look like.
Savings Goal Example:
Jennifer wants to buy a new car in the future. She currently has $0 in her savings account but she knows she will need at least $5,000 for a good downpayment. The car she has now is fine so she plans on waiting at least 2 years before making a purchase. Here is what that would look like.
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