Monthly saving to hit a number.
A worked example
Starting figures
- Target
- $750,000
- Starting pot
- $40,000
- Return
- 6.5%
- Years
- 25
What it returns
- Monthly contribution
- $731.47
- From existing pot
- $202,248
- Total contributed
- $219,441
- Growth
- $490,559
How to read the results
With the defaults above, monthly contribution works out at $731.47.