Using the calculator
Enter Current savings, Savings goal, Monthly contribution, Annual savings yield, and the other fields shown. Estimate how long it may take to reach a savings goal and how much monthly saving is required by a target date.
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Savings Goal Calculator
Estimate how long it may take to reach a savings goal and how much monthly saving is required by a target date.
Enter your financial details
Use current balances, rates, payments, income, costs, or tax figures that match the scenario. The savings goal tool uses those values to produce an estimate you can compare and plan around.
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months
Estimated time to goal—
Estimated goal date—
Monthly contribution for target timeline—
Estimated interest earned to goal—
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How to use this calculator
Reading the result
The result shows the savings amount, time, or contribution needed to reach the goal described by the inputs entered.
Results are estimates based on the values entered. Review the Methodology and Calculator Disclaimer for important limitations.
Common questions
Should I include a return assumption for short term savings?
Only if the account is expected to earn a meaningful rate during the time horizon. For very short periods, contributions may drive most of the result.
Why does an earlier contribution help?
Money contributed earlier has more time to earn any assumed growth. The effect becomes larger when the time horizon or assumed return is higher.
What if the goal date is flexible?
Run the target with more than one time horizon. The required contribution can change substantially when the same goal is spread across more months.
Related reading
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