Savings Goal Calculator
Calculate how long it will take to reach any savings goal, based on your monthly contribution and expected growth rate.
A flexible tool for any savings goal
Unlike calculators built around a specific purpose (retirement, a house down payment, college), this one works for any savings target — a wedding, a vacation, a new car, a business investment, or simply a general savings milestone. Enter your goal, what you're starting with, and your monthly contribution to see a realistic timeline.
The annual return field is optional in effect — set it to 0% if your savings are sitting in a non-interest-bearing account, or use a modest rate if it's in a high-yield savings account or similar low-risk vehicle.
How increasing your contribution changes the timeline
Because this calculation compounds monthly, even modest increases to your monthly contribution can meaningfully shorten your timeline, especially for longer-term goals — it's worth experimenting with a few different contribution amounts to see the trade-off between saving more aggressively now versus a longer, more comfortable timeline.
If reaching your goal feels too slow at your current contribution rate, this calculator makes it concrete exactly how much increasing your monthly amount would speed things up, which can help make a decision to save more feel more motivating than abstract.
Frequently asked questions
What if I don't earn any interest on my savings?
Set the annual return field to 0% — the calculator will then simply project based on your contributions alone, without any compounding growth added.
What does it mean if the calculator says my goal isn't reachable?
This appears if your monthly contribution and return rate combined wouldn't reach the goal within 50 years — in that case, consider increasing your monthly contribution or adjusting your goal amount or timeline expectations.