Savings Goal Calculator
Estimate the number of months needed to reach a target balance using a current balance, recurring monthly contribution and assumed annual return. The result also reports estimated contributions and growth along the path.
The return is an assumption and the monthly contribution is held constant. Investment results are not guaranteed.
How this tool works
Each month, the prior balance is grown by the monthly return and the monthly contribution is added. The calculation repeats until the target is reached or the search horizon is exceeded.
Example
Starting with $5,000, adding $500 per month and assuming 5% annual growth reaches a $25,000 goal sooner than contributions alone because prior savings also compound.
Common questions
Is investment growth guaranteed?
No. The assumed return is a planning input. Actual investment returns can be higher, lower or negative.
What if my contribution changes?
This version assumes the same contribution each month. Recalculate when your savings rate changes.