What formula is used?

Future value of an annuity with a starting balance: m = ln((G*r + C) / (P*r + C)) / ln(1 + r), where G is goal, P is starting balance, C is monthly contribution, and r is monthly return.

What if the goal is unreachable?

If monthly contribution is zero and the expected return alone cannot grow your balance to the goal, the calculator reports the goal as unreachable with the given inputs.

Does it account for inflation?

No. Enter your expected real return (nominal minus inflation) if you want the target in today's dollars.

Savings Goal Calculator

Finance· 37 tools

Free online savings goal calculator. Enter your target amount, current balance, monthly contribution, and expected return. See how many months or years it will take to reach your goal.

Savings Goal ($)

Starting Balance ($)

Monthly Contribution ($)

Annual Return

7y 9m

Time to reach goal (93 months)

$52k$40k$28k$15k$3k

Y0Y4Y7

Disclaimer: For informational purposes only. This is not financial, tax, or legal advice — consult a licensed professional before making decisions.

Frequently Asked Questions

References

Save for a goal — worksheets and tools — Consumer Financial Protection Bureau

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Frequently Asked Questions

References and sources

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