Free · Time to goal · Monthly target
Savings Goal
Calculator
See how long it takes to reach any savings goal — or how much to save each month to get there on time.
Time to goal
Monthly target
Growth chart
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Your goal
Target date (optional)
Use a high-yield savings for goals under 3 years and investments for 5+ years. Return assumptions change the result a lot.
Your plan
Time to reach your goal
3 yrs 10 mo
with $400/month at 5% return
Monthly contribution needed
$480
to reach $20,000 in 5 years
You contribute
$20,400
Interest earned
$2,100
Progress
10%
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Automate it
Set up an automatic transfer on payday. You reach goals faster because saving is not a decision you have to repeat.
Emergency fund first
Aim for 3–6 months of expenses in easy-access savings before locking money into long-term goals.
Raises accelerate goals
Every raise, save half of it. A growing contribution compounds into reaching your goal years sooner.
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FAQ
Savings goal FAQ
How long will it take to save for a goal?
It depends on your starting savings, monthly contribution and investment return. This calculator simulates month by month to show the exact time and growth.
How much should I save each month?
Enter your goal, current savings, return and target date — the calculator tells you the exact monthly amount needed to get there.
Does interest really help reach a goal faster?
Yes. At 7% annual return, compounding can cut the time to reach a goal dramatically compared to saving in cash at 0%.
What is a realistic return assumption?
For investments: 6–8% nominal (4–5% after inflation). For a savings account, use 1–4%. The lower the assumption, the safer your plan.
Should I save in a high-yield account or invest?
Short-term goals (under 3 years): high-yield savings. Long-term goals (5+ years): diversified investments for growth. Match the tool to the timeline.
What if I miss my monthly target?
Recalculate with your real numbers and adjust. Missing a few months just extends the timeline — consistency beats perfection.
How much is an emergency fund?
Most experts recommend 3–6 months of essential expenses before investing for other goals.
How do taxes affect my savings?
Tax-advantaged accounts (401k, ISA, retirement) let your money grow without annual tax drag. After-tax accounts may reduce effective returns slightly.