Savings Goal Calculator
See how long it takes to reach a savings goal with regular monthly contributions and interest, or find the future value of your contributions. Enter goal (or leave blank), monthly payment, and annual rate.
FAQ
- How is this calculated?
- We use the future value of an annuity: FV = payment × (((1 + r)^n − 1) / r). To find months for a goal: n = log((FV×r/payment) + 1) / log(1 + r).
- Is the rate compounded monthly?
- Yes. The annual rate is divided by 12 and applied each month, which is typical for savings accounts.
- What if I have a starting balance?
- This tool assumes you start from zero. For a starting balance, add it to the goal or do two calculations and combine.
- Does this account for taxes?
- No. Use an after-tax rate if the interest is taxable, or use this for tax-advantaged accounts as-is.
How Long to Reach a Savings Goal?
If you save a fixed amount every month and earn interest, the future value of those contributions is given by the annuity formula: FV = payment × (((1 + r)^n − 1) / r), where r is the monthly interest rate and n is the number of months. That tells you how much you’ll have after a set time.
When you have a target amount in mind, you can solve for n: how many months until you reach your goal. That’s the savings goal calculator use case. Finance calculators like this assume regular monthly deposits and a constant interest rate; they don’t include taxes or one-off deposits.
Use a realistic rate (e.g. current savings or investment return) and remember that inflation reduces purchasing power over time. For big goals, revisiting the numbers each year helps keep you on track.
Also try our Loan Payoff Calculator.
People Also Ask
- How long does it take to save $10,000?
- How much should I save each month for a goal?
- Does a savings calculator include interest?
- What if I already have a starting balance?
Last updated: February 2026