Savings Goal Calculator

Most financial advisors recommend 3–6 months of essential living expenses in a liquid, accessible emergency fund. If you have variable income, are self-employed, or have dependants, aim for 6–12 months. Use this calculator to find out how long it takes to reach your target.

High-yield savings accounts currently offer 4–5% APY. Money market accounts are similar. For short-term goals (under 3 years), assume 4–5%. For longer-term goals invested in the market, 6–8% is a reasonable estimate. Use 0% to see the absolute minimum you need to save.

If your existing savings will grow to your target through interest alone within the time frame you set, the calculator will show a monthly contribution of $0 and mark the goal as already reachable. In that case, you just need to leave the money invested and let compound interest do the work.