Savings Goal Calculator

Determine how long it will take to reach your savings target, considering interest and monthly contributions.

Goal Amount

Starting Balance

Monthly Contribution

Annual Interest Rate (%)

It will take X years and Y months

Target Date

Total Contributions

Total Interest Earned

Goal Progress: Current Start vs Final Goal

View Month-by-Month Progress

Month	Starting	Contribution	Interest	Ending Balance

Formulas

This calculator uses compound interest formula iterated monthly. Monthly Interest Rate = Annual Rate / 12. Each month:

Example 1: Goal $50k, Starting $5k, $500/mo, 6% return. Takes about 6 years and 2 months.
Example 2: Goal $10k, Starting $0, $200/mo, 0% return. Takes exactly 50 months (4 years 2 months).
Example 3: Goal $100k, Starting $20k, $1k/mo, 8% return. Interest helps dramatically reduce time.

Does it calculate inflation?

No, the results are in nominal terms. You should subtract expected inflation from your interest rate for "real" returns.

When are contributions made?

Contributions are assumed to be made at the end of each month.

What if my rate is 0%?

It simply calculates how many months of flat savings it takes to bridge the gap between starting and goal amounts.

Is the interest compounded?

Yes, interest is compounded monthly.