Example
To save $20,000 in 3 years earning 4% a year, put aside about $524 a month. You deposit about $18,877, and around $1,123 comes from interest.
High-yield savings accounts, CDs and Treasury bills are good places for goals within a few years.
Frequently asked questions
What return should I use?
For short goals, use what your savings account or CD pays today.
See also
Results are estimates for information only and are not financial, legal or medical advice. Rates, taxes and fees vary — confirm with a professional or your lender.