Savings Goal Calculator
Plan how long it takes to reach a savings goal, or how much you need to save monthly, factoring in compounding interest.
Inputs
Time to reach goal
—
Months
—
Interest earned
—
Total contributions
—
Monthly needed to reach in 5 years
—
About Savings Goal Calculator
High-yield savings accounts
In 2025-2026, online banks pay 4-5% APY on savings (Ally, Marcus, SoFi). Big banks often pay 0.01-0.5%. The difference on $20k over 5 years is over $5,000.
Emergency fund target
3-6 months of expenses in liquid, FDIC-insured accounts. Keep it boring — your job is to never touch it, not to maximize return. A high-yield savings account is ideal.
Bucket strategy
Separate funds by purpose: emergency (HYSA), short-term goals 1-3 yrs (CDs/T-bills), long-term goals 5+ yrs (S&P 500 index). Match risk to time horizon.