Use this calculator to estimate how many months or years are needed to reach a savings target. It combines your current balance, monthly deposits and an optional annual return to project your progress.
Yes. When you enter an annual return above 0%, the balance is compounded monthly before each contribution is added.
The estimate becomes a pure savings plan based only on your starting amount and monthly contributions.
Method: The balance grows each month by the monthly rate, then the monthly contribution is added. The loop stops when the target amount is reached.
Example: Starting with 1,000, adding 300 per month at 3% annual return, a 10,000 target is reached in about 29 months.
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