Find out when you will reach your savings target, or what it takes to get there by a deadline.
Enter your target amount, what you have saved so far, what you can add each month, and a realistic expected return. The result shows the number of months and years needed, plus the breakdown between your contributions and investment growth.
The math assumes contributions are made monthly and returns compound monthly. For short-term goals under three years, use a conservative return near current savings account yields, because market volatility can easily overwhelm average returns over short windows.
The calculator solves the future value equation for time. Given a starting balance, a monthly deposit, and a monthly growth rate, it iterates month by month until the balance crosses your goal. This mirrors reality more closely than a single closed-form equation, because it accounts for the sequence of deposits.
You have four levers: raise the target date, increase the monthly contribution, find a higher return (with higher risk), or shrink the goal. Increasing contributions is usually the most reliable lever, because it depends only on your behavior. Cutting the timeline by saving $150 more per month often beats chasing an extra 1% of return.
High-yield savings accounts currently yield around 4%. A balanced portfolio might average 5 to 7% over long periods, with real risk of down years. Never use optimistic long-run stock returns for goals under five years away.
Keep them separate. An emergency fund exists to be spent without warning; blending it into a goal means one car repair resets your plan.
Interest and dividends are usually taxable each year. Use tax-advantaged accounts where eligible, or mentally haircut the return rate by your tax bracket.