Money
Savings goal
How long a goal takes, or what to set aside.
Result
Enter the goal. Add a monthly deposit to see how long it takes, or a deadline to see the deposit.
How this works
The balance grows monthly at one-twelfth of the annual rate, then the deposit is added. “How long” counts months until the balance reaches the goal. “How much per month” searches for the smallest deposit, to the cent, that gets there within the number of months you set.
A 0% rate is a plain cash pile. If the goal is already met, the answer is zero months. This ignores taxes and the chance the rate changes.
An example
A $6,000 trip, $1,000 already saved, $150 a month, 3% a year. The headline is how long that pace takes. If you also type 24 months as a deadline, the page tells you the monthly deposit that would land there in two years.