Savings goal calculator
Turn a savings target and timeline into a monthly contribution estimate, with a clear breakdown of deposits and growth.
Your numbers
Your result
Example scenarioEstimated monthly contribution
To reach C$50,000 in 5 years at 3.00% return
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See the monthly contribution without relying on investment growth.
Or save these inputs, change a number and compare with your saved scenario.
Why this number?
Monthly i = (1 + r)^(1/12) − 1. Required contribution = (target − starting balance × (1 + i)^n) / (((1 + i)^n − 1)/i). At a zero rate it is (target − starting balance)/n. Negative required contributions are set to zero. Contributions are rounded upward to the next cent.
Result breakdown, line by line
Values use the assumptions above and the exact inputs entered. Compare scenarios before making a decision.
Planning estimate. Rate and return assumptions can change the result.
How is this calculated?Money Figures · Savings goal calculator · Model v0.1.6 · Values in Canadian dollars
Charts, table & comparisonsTake a closer look at your result.
Your projection
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Assumptions & methodology
Monthly contribution
Monthly i = (1 + r)^(1/12) − 1. Required contribution = (target − starting balance × (1 + i)^n) / (((1 + i)^n − 1)/i). At a zero rate it is (target − starting balance)/n. Negative required contributions are set to zero. Contributions are rounded upward to the next cent.
Timing and limits
The target is a future nominal dollar amount. Contributions are made at the end of each month. The model assumes a constant effective annual return and does not calculate tax, contribution room, fees separately, inflation-adjusted targets, emergencies or investment volatility. A return assumption is not guaranteed.
A worked example
With C$5,000 saved toward a C$50,000 target in five years, calculate the monthly contribution needed at a hypothetical 3% annual return. Compare with a 0% scenario to see the role of growth.
Understand the result
Build a monthly savings plan
Set a Canadian savings target, choose a timeline and see how a return assumption changes the monthly amount you need to contribute.
Read guideRRSP or TFSA? Start with two tax rates
See how equal-cost RRSP and TFSA comparisons change with future withdrawal tax, refund reinvestment and contribution-room assumptions.
Read guideImportant: planning estimate, not financial advice
Money Figures provides general calculator estimates based on the inputs and assumptions shown. It does not consider your full financial circumstances and is not financial, tax, investment, lending or legal advice. Results do not guarantee lender, insurer, government or tax treatment. Confirm material decisions with the relevant institution or an appropriately qualified professional.
Your next money decision
See how your balance could grow
A target is a planning assumption. Try different contribution amounts and returns, including 0%, before committing.
Explore the next tool or guide →Sources
Sources checked: 2026-10-09. Targeted technical check: 2026-10-11. Financial model v0.1.6; release v0.2.9. Independent financial review is pending. Calculation standards · Change history.