Pick a number, see the date. Starting balance, monthly contribution, expected return — this calculator tells you when you actually reach the goal, and which lever moves the date.
A goal without a date is a wish
"Saving up" feels virtuous but vague. What turns it into a plan is the date: given what you have, what you add monthly, and what it earns, when do you arrive? This calculator computes that date and — more usefully — shows how the levers move it.
The formula
- Each month: balance = balance × (1 + monthly return) + contribution, repeated until the balance reaches the goal.
- The result splits into what you contributed and what growth added — for short goals, expect the first to dominate.
How to use the result
Try the levers before you commit: nudge the monthly contribution up and watch the date respond, then compare that against a higher return assumption — for near-term goals the contribution wins, which is liberating: the date is mostly under your control. Then automate the transfer on payday. A goal funded by leftovers arrives late; a goal funded first arrives on the schedule this calculator shows you.
Frequently asked questions
- What return should I use for a savings account vs investments?
- For cash goals, use your account's actual interest rate. For long-horizon invested goals, use a conservative average return assumption — and remember markets don't deliver averages on schedule. Short-term goals generally belong in cash precisely because the arrival date matters.
- Contribution or return — which matters more?
- For goals under roughly five years, the contribution dominates: there simply isn't enough time for compounding to do heavy lifting. Chasing yield on a short-term goal adds risk without moving the date much; raising the monthly amount moves it reliably.
- How do I pick the goal amount for an emergency fund?
- A common guideline is three to six months of essential expenses — rent, food, insurance, utilities, minimum debt payments. Add up one month honestly and multiply; that number is a better goal than a round figure picked from the air.
- What if the calculator says the goal is decades away?
- Then you've learned something valuable before spending years finding out. Either the monthly contribution needs to rise, the goal needs to shrink or split into stages, or the timeline itself is the goal to renegotiate. All three beat quiet disappointment.