How Long Will it Take to Save $245,000?

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 $245,000?
Calculate how much you need to save every day, week, or month to save $245,000. 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 $245,000. 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 $245,000.
Monthly Savings Needed to Save 245,000 by Years and Interest Earned
Years Monthly Savings at 2% Monthly Savings at 4% Monthly Savings at 6% Monthly Savings at 8%
1 $20,232 $20,052 $19,876 $19,704
2 $10,016 $9,829 $9,648 $9,473
3 $6,611 $6,424 $6,243 $6,070
4 $4,909 $4,722 $4,543 $4,373
5 $3,888 $3,702 $3,526 $3,359
6 $3,207 $3,023 $2,849 $2,686
7 $2,721 $2,539 $2,368 $2,208
8 $2,357 $2,176 $2,008 $1,852
9 $2,074 $1,895 $1,730 $1,578
10 $1,848 $1,670 $1,508 $1,360
11 $1,663 $1,487 $1,328 $1,184
12 $1,508 $1,334 $1,178 $1,038
13 $1,378 $1,206 $1,053 $917
14 $1,267 $1,096 $946 $814
15 $1,170 $1,001 $854 $726
16 $1,085 $919 $774 $650
17 $1,011 $846 $704 $584
18 $945 $782 $643 $526
19 $886 $725 $589 $475
20 $833 $673 $540 $431
21 $785 $627 $497 $391
22 $741 $585 $458 $355
23 $701 $548 $423 $324
24 $665 $513 $391 $295
25 $632 $481 $362 $270
26 $601 $453 $336 $246
27 $572 $426 $312 $226
28 $546 $401 $290 $207
29 $522 $379 $270 $190
30 $499 $358 $251 $174