Required Savings Deposit Calculator

 

Use this calculator to figure how much you would need to deposit today to have your investment grow to a specific goal amount in a set number of years. For example, if you wanted to pay for your child's education, you can see how much you would need to set aside today in order to cover their future education expenses.

This calculator can be used to figure compound interest, or to estimate the projected returns of various other asset classes based on their historical performance.

  • Savings Accounts: Recently passbook savings accounts earned around 2% APR which compounds monthly at an APY of 2.018%.
  • Stocks: The S&P 500 has earned about 10% annually in recent history after factoring in dividend reinvestment. If you are investing in stocks & other similar financial instruments be sure to set the compounding frequency to annually.

Your Future Savings Goal

Future savings goal ($):
Annual interest rate you expect to earn (APR %):
Years between now and your savings goal:
Compounding frequency:

Your Required Deposit

This is how much you would have to deposit today:
Annual Percentage Yield (APY %):

Pigly's Tip

529 education savings plans can allow you to set aside money for a child's qualified education expenses. These investments can compound on a tax-advantaged basis.