◆ 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
◆ BUDGETING & SAVING
How to Build an Emergency Fund — And Where to Keep It
An emergency fund is the foundation of every financial plan — the buffer that keeps one bad month from becoming a financial crisis. Here's exactly how to build one.
◆ BUDGETING & SAVING
Spending Your Retirement Without Running Out: What the Numbers Actually Say
Safe withdrawal rates, tax-efficient sequencing, Social Security timing, and Medicare costs: what each decision actually costs you in a 30-year retirement.
◆ BEHAVIORAL FINANCE
Present Bias: Why You Value Today So Much More Than Tomorrow — and What It Costs You
We discount the future steeply and inconsistently, preferring small rewards now over larger ones later — the root of undersaving, debt, and broken resolutions.