Savings goal calculator
Find the first month your savings reach a target using monthly compounding and end-of-month deposits. Free and private in your browser.
Deposits are made at the end of each month and earn no interest in that month.
Finds the first whole month within 120,000 months (10,000 years). The table also includes the month just before reaching the goal; displayed balances may look equal after rounding.
The annual return is a nominal annual rate. Monthly rate = annual rate ÷ 100 ÷ 12, compounded monthly. Use the same currency for all amounts.
- Months to first reach the goal
- Years and months
- Expected balance at goal
Actual returns vary. Taxes, fees, and inflation are excluded. Only displayed amounts are rounded to two decimal places.
Up to 12 months: monthly rows. Longer periods: annual summaries (multiple-year intervals for very long periods), including the initial and final balances.
| Month | Expected balance at goal | Total contributions | Accumulated return |
|---|---|---|---|
| 0 | 1,000 | 1,000 | 0 |
| 12 | 2,395.08 | 2,200 | 195.08 |
| 24 | 3,967.08 | 3,400 | 567.08 |
| 36 | 5,738.46 | 4,600 | 1,138.46 |
| 48 | 7,734.49 | 5,800 | 1,934.49 |
| 60 | 9,983.66 | 7,000 | 2,983.66 |
| 61 | 10,183.5 | 7,100 | 3,083.5 |
Your inputs stay on this device.
How to use
- Enter the initial amount, monthly deposit, and nominal annual return.
- Enter your target amount in the same currency.
- Read the first whole month, the years-and-months conversion, and the expected balance; copy the conditions and results.
Using r = annual return / 100 / 12, each month applies B(next) = B(current) × (1 + r) + monthly deposit. We find the smallest integer n with B(n) ≥ target using a bounded binary search. At 0%, B(n) = initial amount + monthly deposit × n. An already reached goal takes 0 months. With no deposits, a positive initial amount and return can still reach the goal. No deposits and no growth means the goal is unreachable; results beyond 120,000 months are reported separately. Calculations stay in your browser.