Define your goal, timeline and expected return. Calculate exactly how much you need to save and invest each month to get there.
Your financial goal
What if you change the timeline?
Illustrative calculator. Real returns vary depending on the investment instrument and market conditions.
Clearly define what you are saving for — that determines the time horizon and the right instrument. An emergency fund (3-6 months of expenses) should be in something liquid and low-risk. A 5+ year goal can assume more risk and potentially higher returns.
The return rate depends on where you invest: 0% if keeping cash, 3-6% in term deposits or fixed income instruments, 6-10% historically in equity index funds (with higher volatility). For short-term goals (under 2 years), use low rates.
Once you know the monthly amount needed, set it up as an automatic transfer on the day you receive your income — so saving happens before you have the opportunity to spend that money.
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