Savings Goal Calculator

Smart Savings Planning

Set realistic savings goals and create actionable plans to achieve them. Whether it's an emergency fund, vacation, or major purchase.

Two Calculation Modes

• Calculate Amount: Know when you need the money, find out how much to save monthly
• Calculate Time: Know how much you can save, find out when you'll reach your goal

Required Information

• Goal Amount: Total amount you want to save
• Current Savings: Money you already have (optional)
• Target Date or Monthly Amount: Depends on calculation mode
• Expected Return: Investment return rate (1.5% for savings account)

Popular Savings Goals

• Emergency Fund: 6-12 months of expenses ($15,000)
• Home Down Payment: 20% down payment on home ($80,000)
• Car Purchase: New car purchase ($25,000)
• Vacation: European vacation ($5,000)
• Wedding: Wedding celebration ($30,000)

Investment Options by Return Rate

• 0-2%: High-yield savings, CDs, Treasury bonds
• 4-7%: Conservative mutual funds, bond funds
• 7-10%: Diversified stock funds, index funds
• 10-15%: Individual stocks, growth funds (higher risk)

Investment Examples

• Low Risk (0-2%): High-yield savings accounts, Certificates of deposit, Treasury bills, Money market accounts
• Medium Risk (4-7%): Bond index funds, Conservative balanced funds, Target-date funds, I Bonds
• High Risk (7-10%): S&P 500 index funds, Total stock market funds, Target-date funds, Balanced portfolios
• Very High Risk (10-15%): Growth stock funds, Small-cap funds, Individual stocks, Sector-specific ETFs

Tips for Success

• Maximize employer 401(k) match first
• Consider Roth IRA for tax-free growth
• Automate savings with direct deposit
• Review and rebalance portfolio annually
• Keep 3-6 months expenses in emergency fund