How Long Will it Take to Save $62,000?

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 $62,000?
Calculate how much you need to save every day, week, or month to save $62,000. 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 $62,000. 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 $62,000.
Monthly Savings Needed to Save 62,000 by Years and Interest Earned
Years Monthly Savings at 2% Monthly Savings at 4% Monthly Savings at 6% Monthly Savings at 8%
1 $5,120 $5,074 $5,030 $4,986
2 $2,535 $2,487 $2,442 $2,397
3 $1,673 $1,626 $1,580 $1,536
4 $1,242 $1,195 $1,150 $1,107
5 $984 $937 $892 $850
6 $812 $765 $721 $680
7 $689 $642 $599 $559
8 $597 $551 $508 $469
9 $525 $479 $438 $399
10 $468 $423 $382 $344
11 $421 $376 $336 $300
12 $382 $338 $298 $263
13 $349 $305 $266 $232
14 $321 $277 $239 $206
15 $296 $253 $216 $184
16 $275 $233 $196 $164
17 $256 $214 $178 $148
18 $239 $198 $163 $133
19 $224 $183 $149 $120
20 $211 $170 $137 $109
21 $199 $159 $126 $99
22 $188 $148 $116 $90
23 $177 $139 $107 $82
24 $168 $130 $99 $75
25 $160 $122 $92 $68
26 $152 $115 $85 $62
27 $145 $108 $79 $57
28 $138 $102 $73 $52
29 $132 $96 $68 $48
30 $126 $90 $64 $44