Savings Goal Calculator
Savings Goal
Months to goal
18
Years (approx)
1.5
Goal amount
$10,000.00
How calculations work
Calculations run locally in your browser; we do not use any external APIs.
- Current savings: starting balance added to future value calculations.
- Monthly contribution: added at the end of each month in the simulation.
- Monthly rate: annual return divided by 12 (if provided).
- Simulation: we iterate month-by-month: balance grows by monthly rate, then contribution is added. Count months until balance ≥ goal or a limit is reached.
This is a simple projection and does not account for taxes, fees, or changing returns.
What this does
This Savings Goal Calculator estimates how long it will take to reach a target amount given current savings, monthly contributions, and an expected annual return. It projects periodic growth and contributions until the goal is met, providing a timeline and total contributions required.
Who should use
Use this if you are setting a specific savings target — for example a down payment, emergency fund, or a large purchase — and want to know how contributions and expected returns affect the timeframe.
How this works
We simulate account growth on a monthly basis: interest is applied based on the annual rate and added monthly contributions are included. The simulation continues until the balance reaches or exceeds the target or a predefined limit is reached for practicality.
How to interpret the results
Output includes the time required to hit the goal and the sum of contributions and interest earned. Faster progress can be achieved by increasing contributions, raising the expected rate (with higher risk), or adjusting the time horizon.
Example
If you have $5,000 saved, plan to contribute $200/month and expect a 4% annual return, this calculator will estimate how many months or years it will take to reach your target amount.
Limitations & disclaimer
Projections assume constant returns and do not account for taxes, fees, or inflation. Results are for planning only. See the calculators hub for other tools and localised formats.