Savings Calculator
0 months to reach your goal
How This Calculator Works
Instead of projecting a fixed number of years forward, this calculator works backward from a savings goal — telling you how long it will take to reach it given your current savings, monthly contribution, and an assumed interest rate, compounded monthly.
Where Should You Keep This Money?
For a goal you plan to reach within a few years — an emergency fund, a down payment, a big purchase — a high-yield savings account or money market account is usually a better fit than the stock market, since you can't afford a market downturn right before you need the cash.
Speeding Up Your Timeline
Because this is a fairly short-term goal for most people, increasing your monthly contribution shortens your timeline more reliably than chasing a higher interest rate — try a few different contribution amounts above to see the effect.
Frequently Asked Questions
Where should I keep short-term savings?
A high-yield savings account or money market account is usually a better fit than investing in stocks for goals you plan to reach within a few years.
What if I increase my monthly contribution?
For most short- to medium-term goals, increasing your contribution shortens your timeline more than chasing a slightly higher interest rate.