By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

You could reach your goal in 4 years, 2 months.

*This entry is Required. indicates required.

Savings plan inputs:

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Savings goal:*This entry is Required.Enter an amount between $100 and $10,000,000

Target years to save:*This entry is Required.Enter an amount between 1 and 100

Amount currently saved:*This entry is Required.Enter an amount between $0 and $10,000,000

Monthly savings:*This entry is Required.Enter an amount between $1 and $10,000,000

Saving frequency:*This entry is Required.

Expected Rate of return:*This entry is Required.Enter an amount between 0% and 20%

Expected inflation rate:*This entry is Required.Enter an amount between 0% and 20%

Federal tax rate:*This entry is Required.Enter an amount between 0% and 100%

State tax rate:*This entry is Required.Enter an amount between 0% and 100%

**FIG_GRAPHTITLE** Column Graph: Please view the report to see detailed calculation results in tabular form.

Savings Plan by Year

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Definitions

Savings goal

The amount you wish to have in savings at the end of this savings plan.

Target years to save

The number of years you have to save.

Amount currently saved

Total you currently have saved toward this savings goal.

Monthly savings

The amount you will contribute each month to your investments. This calculator also assumes that you make your contribution at the beginning of each month.

Expected rate of return

This is the annually compounded rate of return you expect from your savings or investment. The actual rate of return is largely dependent on the type of investments you select. For example, for the last thirty years the average annual rate of return for the TSX is about 10%. Savings accounts at a bank or credit union may pay as little as 2% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.

Expected annual inflation rate

What you expect for the average long-term inflation rate.