Savings Goal Calculator

This calculator tells you how many years it will take you to reach a certain savings goal based on the amount you already have saved, the amount you save each year, and the annual rate of return you earn on your savings.
To find how long it will take you to reach a certain savings goal, simply fill in the values below and then click the “Calculate” button.

You will reach your savings goal in:

16.6 years


Some Interesting Ways to Use This Calculator

See how investment returns impact the time it takes to reach your savings goal.
For example, if you currently have $0 and hope to save $100k by saving $10k each year, then earning 3% annual returns will allow you to hit this goal in 8.9 years. Bumping your returns up to 7% each year will allow you to hit your goal in 7.8 years, just one year sooner.
On the other hand, if you currently have $0 and have a much larger goal to save $1 million by saving $10k each year, then earning 3% annual returns will allow you to hit this goal in 46.9 years. Bumping your returns up to 7% each year will allow you to hit your goal in 30.7 years, shaving 16 years off your timeline.
See how your starting point impacts the time it takes to reach your savings goal.
For example, if you currently have $0 and hope to save $1 million by saving $10k each year while earning 5% annual returns, then it will take you 36.7 years to achieve this goal.
On the other hand, if you currently have $200,000 already saved and hope to save $1 million by saving $10k each year while earning 5% annual returns, then it will only take you 22.5 years to hit this goal.
See if a higher savings amount or a higher annual return will make a larger impact on the time it takes you to hit your savings goal.
For example, if you currently have $0 and hope to save $500k by saving $10k each year while earning 5% annual returns, then it will take you 25.7 years to achieve this goal.
If you keep your annual savings the same but you bump up your annual returns to 7%, then you will be able to reach your savings goal in 22.2 years.
On the other hand, if you bump up your annual savings to $15k per year and keep your annual returns at 5%, then you will be able to reach your savings goal in just 20.1 years.

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