How Long Will it Take to Save $120,000?

How much will you need to save every day, every week, and every paycheck to meet your savings goal?
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Here's how much you will have to set aside to save $5,000 in 1 Year:
$96 every week
$191 every two week pay period
$416 every month
$14 every day
How Long Does it Take to Save $120,000?
Calculate how much you need to save every day, week, or month to save $120,000. Enter your savings goal, the time needed, and the investment return that you receive to see how much you need to save regularly to achieve your savings goal of $120,000. Use this to see how much you need to save for retirement, a college education, a down payment on a home, or any type of savings goal.
See the chart below to see how much you need to save based on the length of time needed to save $120,000.
Monthly Savings Needed to Save 120,000 by Years and Interest Earned
Years Monthly Savings at 2% Monthly Savings at 4% Monthly Savings at 6% Monthly Savings at 8%
1 $9,909 $9,821 $9,735 $9,651
2 $4,906 $4,814 $4,726 $4,640
3 $3,238 $3,146 $3,058 $2,973
4 $2,404 $2,313 $2,225 $2,142
5 $1,904 $1,813 $1,727 $1,645
6 $1,571 $1,481 $1,396 $1,316
7 $1,333 $1,243 $1,160 $1,082
8 $1,155 $1,066 $984 $907
9 $1,016 $928 $847 $773
10 $905 $818 $739 $666
11 $814 $728 $650 $580
12 $739 $654 $577 $509
13 $675 $591 $516 $449
14 $620 $537 $463 $399
15 $573 $490 $418 $355
16 $532 $450 $379 $318
17 $495 $414 $345 $286
18 $463 $383 $315 $258
19 $434 $355 $288 $233
20 $408 $330 $265 $211
21 $384 $307 $243 $191
22 $363 $287 $224 $174
23 $344 $268 $207 $158
24 $326 $251 $192 $145
25 $309 $236 $177 $132
26 $294 $222 $165 $121
27 $280 $209 $153 $110
28 $267 $197 $142 $101
29 $255 $185 $132 $93
30 $244 $175 $123 $85