Your financial goals

Financial goals can be varied: whether you are planning a trip around the world, buying a new car, or want to build a financial shield: having a clear goal in mind makes saving easier. Because only when you clearly define your goals can you work towards them and automatically take an active role.

Define goals

It is important that you define your financial goal as precisely as possible. You can use the “SMART formula” as a guide:

  • Your goal should be as specific  as possible. If it is well defined and clear, it will be more tangible for you.
  • It must be measurable  . Your target amount should be precisely formulated.
  • Your goal must be action-oriented . This means that you should be able to influence whether you achieve your goal or not.
  • Set yourself a realistic goal. Of course, your financial goal should be within the realm of possibility. Think carefully about whether you could achieve more – or whether you should start with a smaller goal.
  • Set a precise deadline for your goal. You can only create a clear timeline if there is a specific date by which you want to have achieved your goal.

If you now factor in an (expected) interest rate, you can plan precisely and use our calculator to determine your monthly savings rate. If you have long-term goals, it is absolutely advisable that you invest your money and let it work for you. The longer you save and invest, the more you can benefit from the compound interest effect and build up your wealth in the long term.

Here you will find a brief overview of the individual key figures and how the calculator works:

Target amount

Enter the amount of money you want to save here. Enter the number in whole euros and do not use dots or commas.

Number of years

By when do you want to have achieved your financial goal? The longer the period, the more abstract your goal becomes – but that’s exactly why it’s worth making clear, structured calculations right from the start.

Expected rate of return

At what interest rate did you invest your money? Of course, this often cannot be predicted exactly. But if you invest long-term, an average return can be predicted with a certain degree of certainty. Enter this interest rate including decimal places.

Your monthly investment

Once you have entered all the data, you now know how high your monthly savings rate needs to be in order to reach your financial goal within your set time frame. If you feel that the monthly rate is too high, you can, for example, extend the savings phase a little or consider how you can increase the return on your investment. Here, too, you should consider using the “SMART formula” to see whether your goal takes all of the points it contains into account.

On the other hand, you may also be able to imagine putting aside a higher monthly amount. Then you can, for example, shorten the savings phase and reach your goal sooner.

Frequently Asked Questions

A Goal Planning Calculator helps you estimate how much you need to save and invest to achieve your financial goals, like buying a house or funding education.

The results provide a solid estimate based on your inputs, but they may vary due to factors like market fluctuations and changes in inflation rates.

Yes, you can use the Goal Planning Calculator to plan for multiple financial goals by adjusting the inputs for each specific target.