How long until you reach your goal?
A travel fund, a down payment, your first million. Enter the numbers to see how long it takes at different returns, and how far behind a 5-year delay leaves you.
Results
Method: yearly returns converted to monthly compounding, with deposits at the end of each month. Inflation, tax and fees are not included.
What if you start 5 years later?
Growth over time
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How is it calculated?
The tool converts the yearly return into an equivalent monthly rate (monthly return = (1 + yearly return)1/12 − 1), assumes a fixed amount is added at the end of each month, and counts month by month until the total reaches your target. "How much a month?" works the other way round: the monthly amount needed to reach the target within your timeframe.
Example: $30,000 saved, $5,000 a month, target $500,000
| Assumed return | Time | You put in |
|---|---|---|
| 2% | 7 years 3 months | $465,000 |
| 4% | 6 years 9 months | $435,000 |
| 6% | 6 years 4 months | $410,000 |
| 8% | 6 years | $390,000 |
Returns are assumptions, not guarantees. Inflation, tax and fees are not included.
Frequently asked questions
What rate of return should I use?
The default 2%, 4%, 6% and 8% are only for comparing scenarios. They don't mean any investment will earn that, and they are not guaranteed. Planning with a lower rate is more prudent.
Does the calculation include inflation and fees?
No. It assumes deposits at the end of each month with monthly compounding, and does not include inflation, tax or any fees, so actual results may differ.
Why does starting 5 years later make such a big difference?
Because compounding needs time. With $30,000 saved, $5,000 a month and an assumed 4% yearly return, you reach $500,000 in about 6 years 9 months. Start 5 years later (with your current savings not invested in those 5 years) and on the same date you would have about $361,365 less.
Is the information I enter stored?
It is never uploaded. All calculations run in your browser. So the check-up can carry on from the last step, some results are saved on your own device only, and you can erase them any time on the summary page.
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