This tool will help you find out the money you need to save every month to reach your goal.
The amount you need to save every month depends on
- the cost of the event today, time horizon and the expected inflation rate.
- your current savings and the return you get on your investment.
Inputs
Income
Annual
Event for which you're saving
What does it cost today? (Rs.)
When is the event likely to happen
Years
Your current savings (Rs.)
Your expected savings (Rs.)
Return you earn on your savings
% p.a.
Savings Compounded
Inflation rate
% p.a.
RESULT
You need to save Rs.
P. M.
At the time of event it would cost
Rs.
With your current savings you should be able to save