Free tool
Savings goal calculator
Set a goal, drag the contribution slider, see your timeline. No signup. Runs in your browser.
Your goal
Tip: 0.5% for a basic savings account, 4-5% for a high-yield savings account, 8-10% for a typical stock-index fund (long-term average).
You hit your goal
Oct 2029
37 months from today
Final balance: $25,548
Where the money came from
$2,048
earned in interest / returns
Contributed: $23,500
Want this goal tracked automatically as your accounts sync?
Open free in VekfinanceThree levers move your timeline: contribute more, earn a higher return, or lower the goal. Most people only push the first.
What "return rate" to use
Basic savings
0.4%
Big-bank checking-linked savings
High-yield savings
4-5%
Ally, Marcus, Discover, Wealthfront
Bonds / T-Bills
4-5%
Short-term Treasuries, money market
Stock index fund
8-10%
Long-run S&P 500 historical average
Where to keep the money
- 1
Under 2 years out: high-yield savings
FDIC-insured to $250K, no risk of loss, instant access. Use it for emergency funds and short-term goals like a vacation or car down payment.
- 2
2 to 5 years out: HYSA + Treasuries
Split between high-yield savings and short-term Treasuries or a money-market fund. Slightly higher return, slightly more friction to access.
- 3
5+ years out: index fund in a tax-advantaged account
Roth IRA, 401k, or HSA holding a broad-market index fund (VTI, VOO). Higher expected return, but with year-to-year swings. Long time horizons absorb the swings.
Worked example
$5,000 starting balance, $500/month contribution, 4.5% high-yield savings. Goal: $25,000.
- Time to goal
- 37 months
- Final balance
- $25,548
- You contributed
- $23,500
- Interest earned
- $2,048
→ Bumping the rate to 8% (stock-index fund) shaves 3 months and adds about $1,200 more interest. Worth it if your time horizon is 5+ years; not worth the volatility for shorter goals.
Pay yourself first
One calculator vs the dashboard
This calculator handles one goal. Most people have several at once (emergency fund, house down payment, car replacement, vacation, retirement). The Vekfinance dashboard tracks all of them simultaneously with live balances from your accounts. Free.
Frequently asked questions
What return rate should I use?
It depends on where you keep the money. A basic savings account pays 0.4-0.5%. A high-yield savings account (Ally, Marcus, Discover) pays 4-5% as of 2025. A broad-market index fund has averaged 8-10% per year over decades, but with year-to-year swings. For a 1-2 year goal use high-yield savings rates; for a 10+ year goal use the long-run stock return.
Does this account for inflation?
No. The numbers above are nominal (today's dollars). For an honest target, subtract roughly 3% per year from your expected return to get a 'real' return. Example: if you expect 8% nominal in stocks, your real (inflation-adjusted) return is about 5%.
Does this account for taxes?
No. If your money is in a tax-advantaged account (401k, IRA, HSA, Roth) you can ignore taxes. If it's in a regular taxable account, your real return is lower (dividends + capital gains are taxed at 15-37%).
How accurate is this?
Very, for the inputs you give it. The math is monthly compounding with end-of-month contributions. Reality differs because real returns aren't constant and you may pause contributions during emergencies.
How do I save more each month?
The cleanest approach: pay yourself first. Set up an automatic transfer to savings the day after payday. Most people save more by removing the choice than by trying to budget what's left over.
Does Vekfinance track savings goals?
Yes. The Goals page lets you set savings targets and Vekfinance tracks your progress against each one as money moves between accounts. Free to use.
Need a different calculator? Try our debt payoff calculator, compound interest calculator, or credit card payoff calculator.
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