Savings goal calculator
The calculator finds the monthly amount that carries today's savings to your goal in the time you set: existing money keeps growing at the chosen return, and the shortfall is spread across the months with the contributions' growth included.
- Total contributed
- €8,203
How much do I need to save monthly to reach €10,000?
Saving €10,000 from scratch in five years takes €166.67 a month if the money just sits there. At a 3% annual return, €154.69 a month is enough: contributions come to about €9,281 and the return covers the rest. The longer the horizon, the more of the work the return does.
What return should I assume?
A term deposit's rate is written into the contract and known in advance, while nobody knows a fund's or the stock market's return ahead of time — a cautious figure makes for a more honest plan than an optimistic one. The calculator assumes the same return every month; real markets do not, and volatility hurts a short plan more than a long one.
Is savings interest taxed in Estonia?
Deposit interest is taxable income in Estonia at 22%, and the bank normally withholds the tax when it pays out. The calculator works in pre-tax figures, so the sum actually available at the end is smaller by that tax. Estonia's investment account regime lets you defer it until money is taken out of the account.
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