Savings Goal Calculator

Enter your savings target, current balance, expected annual return rate, and the number of months or years to reach your goal. The calculator solves for the required monthly contribution you need to make to hit your target on time.

For a high-yield savings account or money market, 4%–5% is realistic in 2024. For a balanced investment portfolio, 6%–8% is a common long-term estimate. For cash savings accounts, use the current APY offered by your bank. Conservative assumptions are always safer for planning.

Yes. It works for any savings timeline — from a 6-month emergency fund to a 20-year retirement account. Shorter-term goals (under 2 years) should use low or zero return rates since the money should stay in low-risk accounts.

No. It calculates pre-tax growth. Interest earned in taxable accounts is subject to income tax, which will reduce your effective return. For tax-advantaged accounts (IRA, 401(k)), the full pre-tax rate applies within the account.

The math is precise for the inputs given, assuming a constant rate of return and consistent monthly contributions. Actual results depend on whether you stick to contributions, the real rate earned, and any fees charged by your account provider.