How Long Will it Take to Save $58,000?

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 $58,000?
Calculate how much you need to save every day, week, or month to save $58,000. 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 $58,000. 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 $58,000.
Monthly Savings Needed to Save 58,000 by Years and Interest Earned
Years Monthly Savings at 2% Monthly Savings at 4% Monthly Savings at 6% Monthly Savings at 8%
1 $4,790 $4,747 $4,705 $4,665
2 $2,371 $2,327 $2,284 $2,243
3 $1,565 $1,521 $1,478 $1,437
4 $1,162 $1,118 $1,076 $1,035
5 $920 $876 $835 $795
6 $759 $716 $675 $636
7 $644 $601 $561 $523
8 $558 $515 $475 $439
9 $491 $449 $409 $374
10 $437 $395 $357 $322
11 $394 $352 $314 $280
12 $357 $316 $279 $246
13 $326 $285 $249 $217
14 $300 $260 $224 $193
15 $277 $237 $202 $172
16 $257 $218 $183 $154
17 $239 $200 $167 $138
18 $224 $185 $152 $125
19 $210 $172 $139 $113
20 $197 $159 $128 $102
21 $186 $148 $118 $93
22 $175 $139 $108 $84
23 $166 $130 $100 $77
24 $157 $121 $93 $70
25 $150 $114 $86 $64
26 $142 $107 $80 $58
27 $136 $101 $74 $53
28 $129 $95 $69 $49
29 $123 $90 $64 $45
30 $118 $85 $60 $41