Savings Goal Calculator
Work out the monthly deposit that actually reaches your target — or how long your current pace will really take.
Your details
A high-yield savings account is realistic for short goals; use a lower number than a stock return for anything under five years
This calculator runs entirely on your device. Nothing you enter is uploaded, stored, or sold. How this works
Save each month
$606.83
To reach $50,000 in 5.0 years
Includes your inputs, the full breakdown, and every row of the table.
Weekly equivalent
$140.04
Total deposits
$36,410
Interest earned
$5,590
Months to goal
60
- Goal
- $50,000
- Already saved
- $8,000
- Existing savings grow to
- $9,768
- Still needed
- $40,232
- Monthly deposit
- $606.83
- Total you deposit
- $36,410
What this means
- Assumes a steady return and a deposit at the end of every month.
- For goals under about three years, use a savings-account rate rather than a stock-market rate — you cannot afford a drawdown right before you need the money.
How the savings goal calculation works
Most savings plans fail for an unglamorous reason: nobody ever worked out the monthly number. A goal without a per-paycheck figure attached is a wish, and this calculator converts one into the other.
Notice how much work your existing balance does. Money already saved keeps compounding the whole time, which is why the required deposit drops sharply once you have a meaningful head start.
Switch the mode to solve for time when the monthly amount is fixed by your budget rather than by the deadline. Seeing that a goal is four years away rather than two is more useful than pretending an impossible deposit is achievable.
Frequently asked questions
What return should I assume for a short goal?
Whatever a high-yield savings account or short-term treasury is paying. For anything you need within three years, the risk of a market drop outweighs the extra expected return.
Should I count my emergency fund toward this?
No. An emergency fund is not savings toward a goal, it is insurance against needing to raid your goals. Keep them in separate accounts.
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Disclaimer. This calculator is provided for general information and educational purposes only and does not constitute financial, tax, legal, medical, or engineering advice. Results are estimates based on the inputs you provide and the assumptions described above. Confirm any figure with a qualified professional before acting on it.