MoneyLifeCalc

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Savings goal

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How long until you reach a goal, and what it takes to get there by a target date.

How this calculator works

The calculator adds your monthly contribution and compounds growth monthly at the annual return you enter until the balance reaches your goal. It also works backward to find the monthly amount needed to hit the goal within your timeframe. For goals under about three years, a high-yield savings account or CDs are common choices, so a modest return of 3% to 5% is a realistic assumption.

Related calculators

Emergency fundFind your emergency fund target based on your essential expenses, and how long it will take to get there.Monthly budgetList your bills line by line and compare your spending with the 50/30/20 guideline: needs, wants, and savings.

Disclaimer: This calculator is for education and planning only and is not financial advice. Actual rates, fees, and terms vary by lender and your credit, so confirm the numbers with your lender before you sign anything.

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