Monthly savings needed for retirement
Set the amount you want at retirement and the tool works out the monthly deposit that gets you there on time.
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Processing and privacy: The result is calculated inside your browser and your data is not sent to any server.
How to use it
- Enter target amount at retirement, current savings, years to retirement and expected annual return.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Monthly deposit M = (T − B × (1 + r)^n) × r ÷ ((1 + r)^n − 1), where T is the target, B current savings, r the annual return ÷ 12 and n the months. With no return M = (T − B) ÷ n.
Example
Inputs: Target amount at retirement = 2,000,000, Current savings = 50,000, Years to retirement = 25 years, Expected annual return = 6 %. Result: Monthly saving needed: 2,563.88; Total deposits: 769,163.20; Current savings at retirement: 223,248.49.
Limits and caveats
- The deposit is the same every month and added at month end.
- The return is fixed, and fees and inflation are ignored, so set a future value target or use a real return.
Questions about this tool
How do I set the target?
Multiply expected yearly spending by 25 for a 4% withdrawal rate, or use the FIRE number calculator.
Why does it show zero?
Your current savings will grow to the target or beyond on their own at the return you entered.
What if I start ten years later?
Lower the years and compare. The deposit rises sharply because compound growth needs time.