How Long Will it Take to Save $55,000?

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 $55,000?
Calculate how much you need to save every day, week, or month to save $55,000. 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 $55,000. 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 $55,000.
Monthly Savings Needed to Save 55,000 by Years and Interest Earned
Years Monthly Savings at 2% Monthly Savings at 4% Monthly Savings at 6% Monthly Savings at 8%
1 $4,542 $4,501 $4,462 $4,423
2 $2,248 $2,207 $2,166 $2,127
3 $1,484 $1,442 $1,402 $1,363
4 $1,102 $1,060 $1,020 $982
5 $873 $831 $792 $754
6 $720 $679 $640 $603
7 $611 $570 $532 $496
8 $529 $489 $451 $416
9 $466 $425 $388 $354
10 $415 $375 $339 $305
11 $373 $334 $298 $266
12 $339 $300 $264 $233
13 $309 $271 $236 $206
14 $284 $246 $212 $183
15 $263 $225 $192 $163
16 $244 $206 $174 $146
17 $227 $190 $158 $131
18 $212 $176 $144 $118
19 $199 $163 $132 $107
20 $187 $151 $121 $97
21 $176 $141 $112 $88
22 $166 $131 $103 $80
23 $157 $123 $95 $73
24 $149 $115 $88 $66
25 $142 $108 $81 $61
26 $135 $102 $75 $55
27 $129 $96 $70 $51
28 $123 $90 $65 $46
29 $117 $85 $61 $43
30 $112 $80 $56 $39