◆ CALCULATOR
Savings Goal
Find out how long it takes to hit a savings target, and how much interest helps.
Try an example
Time to Reach Goal
4 yr 2 mo
Time to reach
4 yr 2 mo
Interest earned
$2,267
Total contributed
$23,000
BalanceTarget
| x | Balance | Target |
|---|---|---|
| Yr 0 | $3,410 | $25,000 |
| Yr 0 | $3,821 | $25,000 |
| Yr 0 | $4,234 | $25,000 |
| Yr 0 | $4,648 | $25,000 |
| Yr 0 | $5,064 | $25,000 |
| Yr 1 | $5,481 | $25,000 |
| Yr 1 | $5,899 | $25,000 |
| Yr 1 | $6,319 | $25,000 |
| Yr 1 | $6,740 | $25,000 |
| Yr 1 | $7,162 | $25,000 |
| Yr 1 | $7,586 | $25,000 |
| Yr 1 | $8,011 | $25,000 |
| Yr 1 | $8,438 | $25,000 |
| Yr 1 | $8,866 | $25,000 |
| Yr 1 | $9,296 | $25,000 |
| Yr 1 | $9,727 | $25,000 |
| Yr 1 | $10,159 | $25,000 |
| Yr 2 | $10,593 | $25,000 |
| Yr 2 | $11,028 | $25,000 |
| Yr 2 | $11,465 | $25,000 |
| Yr 2 | $11,903 | $25,000 |
| Yr 2 | $12,343 | $25,000 |
| Yr 2 | $12,784 | $25,000 |
| Yr 2 | $13,227 | $25,000 |
| Yr 2 | $13,671 | $25,000 |
| Yr 2 | $14,116 | $25,000 |
| Yr 2 | $14,563 | $25,000 |
| Yr 2 | $15,012 | $25,000 |
| Yr 2 | $15,462 | $25,000 |
| Yr 3 | $15,913 | $25,000 |
| Yr 3 | $16,366 | $25,000 |
| Yr 3 | $16,821 | $25,000 |
| Yr 3 | $17,277 | $25,000 |
| Yr 3 | $17,735 | $25,000 |
| Yr 3 | $18,194 | $25,000 |
| Yr 3 | $18,654 | $25,000 |
| Yr 3 | $19,117 | $25,000 |
| Yr 3 | $19,580 | $25,000 |
| Yr 3 | $20,046 | $25,000 |
| Yr 3 | $20,512 | $25,000 |
| Yr 3 | $20,981 | $25,000 |
| Yr 4 | $21,451 | $25,000 |
| Yr 4 | $21,922 | $25,000 |
| Yr 4 | $22,395 | $25,000 |
| Yr 4 | $22,870 | $25,000 |
| Yr 4 | $23,346 | $25,000 |
| Yr 4 | $23,824 | $25,000 |
| Yr 4 | $24,303 | $25,000 |
| Yr 4 | $24,784 | $25,000 |
| Yr 4 | $25,267 | $25,000 |
How to use this calculator
- Enter your goal and current savingsThe target you're aiming for, and what you've banked so far.
- Add your monthly contributionThis is the biggest lever on your timeline.
- Set a return rateA high-yield savings account shortens the timeline for free.
A vague goal rarely sticks; a specific number with a deadline does. Naming the target and a monthly amount turns "save more" into a date you can actually plan around.
◆ Frequently Asked Questions
What is the biggest lever on how fast I reach my goal?
Your monthly contribution. The interest rate helps, but how much you add each month moves the date far more, especially over the first few years.
Does the interest rate matter for a short goal?
For a goal a year or two away, the rate makes only a small difference, so keep the money safe and reachable. For longer goals, a higher-yield account meaningfully shortens the timeline.
Where should I keep the money?
For a goal within a few years, a high-yield savings account or a certificate of deposit keeps the money safe and earning. Money you might need at any moment should not be in the stock market.
Keep reading
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A liability is money you owe. Not all debt works the same way. Here's how to take the category apart by type, cost, and what each kind means for your finances.
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What Is Net Worth?
Net worth is total assets minus total liabilities: the single most complete measure of financial health, better than income alone.