Savings Goal Calculator

↻ Updated 2026

Set a target amount and date and we'll solve for the monthly deposit needed — factoring in what you've already saved and the interest it earns along the way.

Educational calculators — always consult a licensed professional before making financial decisions.

Your inputs

Savings goal

Current savings

Years to reach goal

Expected return

Monthly needed

$662

for 60 months

You'll contribute

$39,725

over 5 years

Interest earned

$5,275

at 4% return

How the goal is funded

Starting savings$5,000

Your contributions$39,725

Interest$5,275

Plan summary

Goal amount$50,000

Current savings$5,000

Time horizon5 yr (60 mo)

Monthly contribution$662

Total you contribute$39,725

Interest earned$5,275

ASSUMPTIONS — Assumes a constant 4% annual return compounded monthly with deposits at month-end. Real savings and investment returns vary over time. A TFSA shelters this growth from tax; eligible deposits at a CDIC-member bank are protected up to applicable limits.

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Sources & rate references

·Standard amortization / compound-interest formulas

Rates, brackets and limits here are checked against primary sources. If a number still looks off, email support@realmoneyiq.com and we'll review and fix it.

RealMoneyIQ provides free educational calculators, not financial, tax, investment or legal advice. Results are estimates based on the assumptions you enter and publicly published rates; your actual outcome will differ. Always confirm decisions with a licensed professional who knows your full situation.