Savings Goal Calculator
HYSA top ~4.0–4.4% (May 2026); 1y CD top 4.10%; S&P 500 long-term ~10.1%.
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How to use
- 1 Enter your savings goal in USD. Common targets: $1,000 starter emergency fund, 3–6 months of expenses ($15K–$30K typical), house down payment (20% of price), $1M FIRE number.
- 2 Enter current savings balance — what you already have toward this goal.
- 3 Enter your planned monthly contribution. The CFPB recommends automating this on payday (10–15% of gross income for retirement, more for short-term goals).
- 4 Enter expected APY. HYSA: 4–5% (early 2026). S&P 500 historical average: ~10% nominal. Realistic balanced portfolio: 6–7%.
- 5 Enter your federal marginal tax bracket (10/12/22/24/32/35/37%) so interest is shown net of tax. For Roth IRA / 401(k), use 0% to model tax-free growth.
About Savings Goal Calculator
FAQ
Q How much do I need to save monthly to retire with $1 million?
At 8% annual return: starting at age 25 (40 years), about $290/month. Starting at age 35 (30 years), about $670/month. Starting at age 45 (20 years), about $1,700/month. Starting at age 55 (10 years), about $5,500/month. Starting earlier compounds dramatically — the cost of waiting is exponential.
Q How long to save $50,000 for a down payment?
At $1,500/month with 4% APY HYSA: about 32 months (2 years 8 months). At $2,000/month: about 25 months. At $2,500/month: about 20 months. The CFPB recommends saving the down payment plus 2–3% additional for closing costs, plus 6 months of new mortgage payments as reserve.
Q Should I save in a HYSA or invest for a 5-year goal?
CFPB and most advisors recommend cash savings (HYSA, CD, Treasury bills) for goals within 3 years, and investing for goals 5+ years away. The 3–5 year zone is gray — typically 60% bonds / 40% stocks (Vanguard Wellesley) or a target-date fund matching the goal year.
Q What is the FIRE number?
Financial Independence, Retire Early (FIRE) targets 25× annual expenses based on Bengen's 4% rule. So $40K/year spending → $1M FIRE number. Lean FIRE is ~$25K/year ($625K). Fat FIRE is ~$100K+/year ($2.5M+). Coast FIRE is the amount that grows to your traditional retirement number without further contributions.
Q How can I save faster?
The biggest levers: (1) increase income — side income, raise, job change; (2) reduce big expenses (housing, transportation, restaurants — typically 60% of US household budget); (3) max tax-advantaged accounts to reduce tax drag; (4) automate transfers on payday. Cutting subscriptions ($5–15 each) helps but is dwarfed by the big three.
Q Does APY matter much for short-term goals?
Less than you'd think for goals under 2 years. On $20K with $1,000/month for 24 months: 5% APY ends at $46,300; 1% APY ends at $44,400. The $1,900 difference matters but is small compared to changing monthly contribution by even $100. For goals over 5 years, APY differences compound much more meaningfully.
Q Should I pay off debt or save first?
Standard order: (1) build $1,000 starter emergency fund first; (2) get any 401(k) employer match; (3) pay off high-interest debt (over 7% — credit cards, payday loans); (4) build full 3–6 month emergency fund; (5) max Roth IRA / 401(k); (6) tackle medium-rate debt (5–7%); (7) save for goals. Mortgage at 4% is usually last priority.
Q How does inflation affect my savings goal?
A $50K goal today might need $67K in 10 years at 3% inflation. Adjust target upward by expected inflation, especially for goals 5+ years out. The Federal Reserve targets 2% inflation; actual averages 2.5–3% over decades. For 30-year retirement planning, model in 3% inflation as a baseline.
Official resources
CFPB — Save Smart
Consumer Financial Protection Bureau guidance on saving strategies and goal setting.
Investor.gov — Compound Interest Calculator
Official SEC compound interest calculator and saving education.
IRS — Tax-Advantaged Retirement Accounts
IRS overview of tax-advantaged retirement saving options and contribution limits.
FDIC — Money Smart for Savers
FDIC consumer education program with savings goal worksheets and budgeting tools.