Savings Goal Calculator
Plan your path to any savings target. See how long it will take to reach your goal with regular contributions and compound growth.
Time to Goal
6y 4m
Target: $50,000
Contributions
$38,000
Interest Earned
$7,684
Est. Goal Date
Jun 2032
Balance Growth Toward Your Goal
Calculator Inputs
S&P 500 historical average: ~10%. Conservative bonds: ~4-5%
Advanced Options
Historical US average: ~3%
Required Contribution
$599.39
Time to Goal
5 years
Total Contributions
$40,963
Interest Earned
$9,287
Key Milestones
25% Complete
Feb 2027
Halfway There
Aug 2028
75% Complete
Dec 2029
Goal Reached
Feb 2031
Savings Growth Projection
Projected balance over time based on contributions and expected return.
Detailed Projection
| Date | Balance | Contributions | Interest | Progress |
|---|---|---|---|---|
| Feb 26 | $5,000 | $5,000 | $0 | 10% |
| Feb 27 | $12,833 | $12,193 | $640 | 26% |
| Feb 28 | $21,232 | $19,385 | $1,846 | 42% |
| Feb 29 | $30,238 | $26,578 | $3,660 | 60% |
| Feb 30 | $39,895 | $33,771 | $6,124 | 80% |
| Feb 31 | $50,250 | $40,963 | $9,287 | 100% |
Understanding Your Savings Plan
The Power of Compound Interest
Money grows exponentially over time because interest is earned on previously earned interest. Starting early and contributing consistently—even small amounts—can lead to significantly larger balances due to this compounding effect. The longer the time horizon, the more powerful this becomes.
Inflation Considerations
While the nominal balance grows, inflation erodes purchasing power over time. The “inflation-adjusted” view shows what future savings would be worth in today’s dollars. Setting goals slightly higher than the nominal target can help account for inflation, especially for long-term goals.
About This Analysis
This calculator provides estimates based on the inputs you supply. It assumes standard amortization and does not account for taxes, insurance, PMI, prepayment penalties, or the opportunity cost of funds. Results are for informational and educational purposes only and should not be considered financial advice. Consult a qualified professional before making financial decisions.
- ·Assumes a constant rate of return, which does not reflect actual market variability.
- ·Does not account for taxes on investment gains.
Related Resources
Related Calculators
Also Consider
Quick Reference
- 50/30/20 Budget GuidelinesNeeds/wants/savings breakdown with examples
- Cost of Living by CityComparison of major US metros
- Inflation Rate HistoryCPI trends, purchasing power over time
- Emergency Fund Guidelines3 vs 6 vs 12 months — who needs what
- High-Yield Savings RatesCurrent top rates for savings accounts
- CD Rates & TermsCurrent rates by term length
Insights
- What Will College Actually Cost? Projecting Tuition for Your Family11 min read
- The Eighth Wonder of Finance: Understanding Compound Interest12 min read
- Building a Budget That Actually Works11 min read
- How Much Emergency Fund Do You Really Need?9 min read
- Setting and Reaching Any Savings Goal: A Practical Roadmap9 min read
3 calculators · 6 reference pages