If you invest xxx€ a month at xxx% over xx years, you will end up with a final capital of €xxx. These consist of €xxx in deposits and €xxx in interest or capital gains.
Do you know this too? You have a dream or a big wish, but you don't really know what you have to do to achieve it or whether it is even achievable? Our tool helps you plan your financial goals and determine the necessary savings rate. This way you have your goal clearly in mind.
What good is it to have a dream in mind if you don't think of a concrete way to get there?
As with everything in life, it is important to set a clear goal. Only then can you figure out how to reach that goal. It's the same with your financial goals. You need to have a clear goal in mind so that you can plan the way to get there.
However, financial goals vary greatly from person to person. While you might be dreaming of a trip around the world, your best friend might be thinking about her own dream house. As different as financial goals can be, our tool will help you figure out how much you need to invest each month to reach your goals. To do this, however, you need to know exactly what your goal is.
In order to be able to plan your goals at all, you first have to define them clearly. Maybe the well-known SMART formula will help you:
S - Specific: Set well-defined and specific goals.
M - Measurable: Define an exact amount of money so that it is measurable.
A - Attainable: The more attrainable your goal is, the more motivated you are to achieve it.
R - Relevant: Your financial goal should be realistic. If you are aiming for something bigger, set smaller intermediate goals along the way.
T – Time-based (defined in time): Determine a concrete point in time when your goal is to be achieved.
The more clearly you define your goal, the easier it will be for you to come up with a plan to achieve it. Let's take a look at how our tool can help you.
Once you have defined your financial goal, we start planning how you can achieve it. You already know HOW EXPENSIVE your goal is and WHEN you want to reach your goal. What's missing now is WHAT you want to invest in to achieve your goal?
There are various investment options for this, which can bring you to your goal at different speeds. In our tool, you can put together your individual portfolio with the respective percentage weights. You can choose between equity ETFs, bond ETFs, funds and your savings account. The tool automatically calculates the individual interest rate.
These interest rate values are based on past average returns and are used as a forecast. However, please always be aware that these are past values and there is no guarantee of future returns.
If you're not yet familiar with these different investment options and can't make a choice, join our newsletter to get you started in investing. Find out how quickly you can gain the knowledge you need to make your investment decisions.
Don't forget, our financial goals tool also takes into account the necessary taxes. These are preset, but can be adjusted individually.
After you have entered all the relevant key points in the tool, it will work out how much your monthly savings rate needs to be if you want to achieve your financial goal.
Now it may be that this monthly savings rate seem very high to you and you wonder how it is supposed to work. Don't let that discourage you right away. Try different scenarios in the tool. Adjust your time horizon or increase your expected return.
No matter what financial goal you are pursuing - whether it is early retirement at 50, your dream house or a trip around the world - it is very difficult to come up with a realistic plan for your goals. Our tool helps you to determine the necessary savings rate so that you can achieve your goal within a time horizon that suits you.
Now start planning your financial goals so you can get closer to them soon.
If you want to find out which of the investment opportunities you should invest in at all, then "What should I invest in?" tool might help you.
Other calculators that can help you with this:
Financial freedom calculator: How much money do I need to be financially free?
Calculate initial capital: How much money do you need to invest today for your financial goal?
