Formula
The balance compounds monthly until it crosses the goal, for at most 50 years:
Age = current age + months required / 12
The hero is the birthday age. Extra months are shown underneath.
Assumptions
- The return and the monthly deposit stay constant.
- Saving stops when the goal is reached.
Worked example
Age 30, with $20,000 saved and $800 added each month at 7%, reaches $500,000 at age 50.
Input definitions
- Nest egg goal
- The balance you want, not an income.
Limitations
This is an estimate, not a loan offer, tax filing, or investment advice. The currency control changes the symbol only.
Questions
What if 50 years is not enough?
The form asks you to raise the monthly savings or lower the goal.
Does the age include extra months?
The main number is the year of age. Extra months are in the line under it.