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Save $150,000 in 3 Years
Use this page to plan a $150,000 savings goal over 3 years. It assumes 4 percent a year to start and lets you edit every box.
You would deposit $3,928.60 each month for 36 months. That is $141,430 in total.
How the deposit is worked out
Run the savings growth formula backward. Instead of asking what a deposit grows into, ask which deposit grows into $150,000 over 36 months. At a monthly rate of 0.3333 percent the answer is the gap to the goal times the rate, divided by the growth factor minus one.
Worked example
At 4 percent you need $3,928.60 a month to hit $150,000 in 3 years. That is $141,430 of your own money.
The remaining $8,570 comes from interest. Without interest the deposit would need to be $4,166.67 a month.
Questions about this calculator
What if you wanted $150,000 one year sooner than 3 years?
Over 2 years the deposit rises to $6,013.74. That is $2,085.14 more each month than over 3 years.
What if the rate on a 3-year $150,000 goal were 2 percent instead of 4 percent?
The monthly deposit for $150,000 would be $4,046.39 instead of $3,928.60. A lower rate means you carry more of the goal yourself.
How much would a $500 head start lower the deposit for $150,000 in 3 years?
The deposit would fall from $3,928.60 to $3,913.84. That is $14.76 less each month.
What would the deposit be for half the goal, $75,000, in 3 years?
$1,964.30 a month at 4 percent.
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This page is for education only and is not financial or tax advice.