A goal without a monthly figure attached is a wish. Working backwards from the amount and the date gives you the one number you actually have to act on.
For anything inside about three years, keep the money in cash or short term instruments. Market returns are only reliable over long horizons, and a goal with a date does not have one.
No. Over a two year window the range of stock market outcomes is wide enough that you could easily arrive at your date with less than you put in. High yield savings or short duration treasuries are the right home for money with a deadline.
Three to six months of essential expenses is the usual range, weighted toward six if your income is variable or your household depends on a single earner. Essential expenses, not total spending, since a real emergency also cuts the discretionary half.
Build a small buffer first, often around one month of expenses, so the next surprise does not go straight back onto a credit card. Then attack high interest debt, then return to the goal.
For cash, use the current high yield savings rate and expect it to fall when rates do. For anything longer than five years, a real return of about 5 percent for a stock heavy mix is a reasonable planning figure.
Savings goal calculator
Set your goal, what you've already saved, and what you put away each month. See the timeline — in years and months.
Time to reach $100,000
9 years and 11 months
Saving $500/month at 10% a year, starting from $0.
You put in
$59,500
Interest & growth
$41,580
Time to reach $100,000 from $0 at 10% a year.
| Saving per month | Time to goal |
|---|---|
| $100 | 22 years and 6 months |
| $250 | 14 years and 9 months |
| $500you | 9 years and 11 months |
| $750 | 7 years and 7 months |
| $1,000 | 6 years and 2 months |
| $2,000 | 3 years and 6 months |
At $500/month and 10% a year.
Your balance is compounded monthly at your annual rate divided by twelve, and each contribution is added at the end of the month. The timeline solves the future-value formula for the number of months: with a monthly rate r above zero, months = ln((goal × r + monthly) ÷ (saved × r + monthly)) ÷ ln(1 + r); with a 0% return it's simply (goal − saved) ÷ monthly. Results are rounded up to the next whole month, so the balance at that point is usually a little past the goal.
Returns are not guaranteed — a 10% investment return is a long-run average, not something any single year delivers, and a savings-account APY can change at any time. Taxes, fees, and inflation aren't modelled, and the calculation assumes you never miss a contribution. This is an estimate for planning, not financial advice. Your numbers never leave your browser — nothing you type here is stored, sent, or tracked.
Not sure what you can actually put away each month? Deco works that out from your real spending.