Goal Planner Calculator
Why Use This Calculator?
Clear Roadmap:
It gives you a simple plan for achieving your financial goal.
Inflation-Ready:
It accurately plans for the future cost of your goal, adjusted for price rise.
Actionable Steps:
It tells you exactly how much you need to save monthly (SIP) or as a lump sum to achieve your goal.
Investment Details
Investment period is calculated between Start Date and Target Date.
Initial investment amount (at the Investment Start Date).
Investment Output & Analysis
Future Value of Goal (Adjusted for Inflation):
0
Compounded monthly over 0 months.
Investment Period Available:
0 months
Required Investment Scenarios
1. Required Lump Sum (No SIP):
0
Lump sum needed at Investment Start Date.
2. Required Monthly SIP (No Lump Sum):
0
This is your goal's required monthly SIP.
3. Required Monthly SIP (With Initial Lump Sum):
0
Reduced SIP due to initial lump sum.
Calculation Error:
Example: Planning for Your Child’s Higher Education
Input Field
Description
Today’s Cost of Your Goal
How much this goal costs today (e.g., education, marriage, car).
Target Date
The date when you want to achieve your goal.
Investment Start Date
The date when you can start lumpsum and SIPs
Any Money Already Saved (One-Time Investment)
The total money you have already saved and allocated for this specific goal.
Expected Growth on Your Investments (%)
The annual return rate you expect on the money you invest for this goal.
Expected Price Rise Per Year (Inflation – %)
The rate at which you expect prices for this specific goal to increase each year.
What the Calculator Tells:
Future Value of Your Goal
The amount of money you will need on your Target Date.
Lumpsum or Monthly Savings Required (No Lumpsum)
The amount you need to invest, as a single amount or a monthly SIP, assuming zero existing savings.
Monthly Savings Required After Allocating Lumpsum
The final, personalized SIP amount needed after including your current savings allocated to the goal.
How to use this Calculator?
This tool helps you turn your dreams and responsibilities into a clear, actionable investment strategy. To increase your chance of success, you must define and plan for each goal clearly.
Here’s how to use the calculator’s results:
- Find Your Target Numbers: The calculator tells you the exact monthly saving (SIP) or one-time lumpsum required to reach the future value of your goal.
- Allocate Your Savings: Enter any existing investments or money you’ve already saved for the goal. The calculator uses this to reduce the additional SIP you need to start.
- Identify Products: Once you know how much to save each month, you can easily select the right investment products (like mutual funds, fixed income schemes, etc.) to match your investment strategy and meet the goal on time.
Schedule a free consultation call to discuss your
goals and to define a strategy.
Frequently Asked Questions (FAQs)
01 What is a financial goal?
A financial goal is based on a dream (like owning a villa), an aspiration (starting a business), or a responsibility (children’s education). To achieve it, you need to accumulate money by saving and investing correctly.
02 How do you define a financial goal?
Defining a financial goal needs three specific things:
1) What is its current cost?
2) When do you want to achieve it?
3) What is the likely inflation rate for that goal?
03 How does one accomplish a financial goal?
There are two main approaches to reach any financial goals:
- Allocate Existing Assets: Assign money you already have to the goal. AND/OR
- Systematic Saving: Regularly save and invest a set amount over time (SIP).
While options like loans or scholarships exist, we focus on saving and investing for goal planning.
04 What kind of goals can I plan for?
You can plan for almost any financial goal since all attributes are the same!
Common examples include:
1) Child’s education or marriage.
2) Buying a house or a car.
3) Saving for a dream vacation.
4) Starting your own business.
05 Why do I need to enter an inflation rate?
Inflation is the expected price rise for your specific goal. It can be different based on a specific goal. For example, the price rise on education is higher compared to buying a car. Factoring in inflation ensures you save enough to secure your goal’s real value in the future, not just what it costs today.
06 What if I already have some money saved for my goal?
That’s excellent! Enter this amount in the ‘Any Money Already Saved’ field. Because your existing savings will also grow over time, the calculator will automatically reduce the required monthly saving amount you need to invest.
07 What if the required monthly saving amount is too high?
If the amount seems difficult to meet, consider these options:
1) Extend Your Time Frame: Giving yourself a few more years significantly reduces the required monthly investment.
2) Increase Your Savings: Look for ways to increase your monthly contribution or allocate additional lump sum assets.
3) Consult a Financial Consultant: A professional can help you adjust your plan to fit your current budget.
08 How often should I review my goal plan?
Review your financial goals and plans at least once a year. It’s also wise to check your plan whenever you have a big life change, such as a new job, a salary increase, or a new family member.
