How Long Will it Take to Save $20,000?

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 $20,000?
Calculate how much you need to save every day, week, or month to save $20,000. 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 $20,000. 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 $20,000.
Monthly Savings Needed to Save 20,000 by Years and Interest Earned
Years Monthly Savings at 2% Monthly Savings at 4% Monthly Savings at 6% Monthly Savings at 8%
1 $1,652 $1,637 $1,623 $1,609
2 $818 $802 $788 $773
3 $540 $524 $510 $495
4 $401 $385 $371 $357
5 $317 $302 $288 $274
6 $262 $247 $233 $219
7 $222 $207 $193 $180
8 $192 $178 $164 $151
9 $169 $155 $141 $129
10 $151 $136 $123 $111
11 $136 $121 $108 $97
12 $123 $109 $96 $85
13 $113 $98 $86 $75
14 $103 $89 $77 $66
15 $96 $82 $70 $59
16 $89 $75 $63 $53
17 $83 $69 $58 $48
18 $77 $64 $52 $43
19 $72 $59 $48 $39
20 $68 $55 $44 $35
21 $64 $51 $41 $32
22 $60 $48 $37 $29
23 $57 $45 $35 $26
24 $54 $42 $32 $24
25 $52 $39 $30 $22
26 $49 $37 $27 $20
27 $47 $35 $25 $18
28 $45 $33 $24 $17
29 $43 $31 $22 $15
30 $41 $29 $21 $14