Compound interest · HYSA rate · up to 3 goals · client-side

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//// Financial · Savings

Savings Goal Calculator

How long until you hit your savings goal? Set up to 3 goals and see the compound growth timeline, target date, total interest earned, and how saving $50 more per month changes everything.

Where this fits

💸 Budgeting & Cash Flow Profile OS Cash Flow Students Households

This tool lives inside Profile OS + Cash Flow and is most useful for students and households.

401(k) Limit 2024$23,000(+$7,500 catch-up 50+)

Roth IRA Limit$7,000(MAGI phase-out applies)

S&P 500 Avg Return~10%/yr(nominal, historical)

Goal 1

Goal name

Quick presets

Target amount

Current savings

Monthly contribution

Annual interest rate (HYSA)

Progress$0 / $1,000 (0%)

Every dollar counts — keep saving!

Time to goal

10 months

Target date

February 2027

Interest earned

$17

Total contributed

$1,000

What if I save more each month?

Extra / mo	New timeline	Months saved
+$50	7 months	−3 months
+$100	5 months	−5 months
+$200	4 months	−6 months
+$500	2 months	−8 months

Target gap today

target amount − current savings

$1,000 − $0

= $1,000

This is the amount still missing before any future contributions or interest are counted.

Savings gap identity

Monthly interest rate

monthlyRate = annualRate / 12

monthlyRate = 4.5% / 12

= 0.3750% per month

Annual yield must be converted to a monthly growth rate because this calculator compounds savings month by month.

Standard periodic-rate conversion

Goal timeline solver

find the smallest n where FV_lump + FV_annuity ≥ target amount

smallest n where future value reaches $1,000

= 10 months

The first month where the compounded balance reaches the goal is month 10, which lands in February 2027.

Iterative future-value solver

Future value of lump sum (current savings)

FV_lump = PV × (1 + r)^n

FV_lump = $0 × (1 + 0.003750)^10

= $0

Your current savings balance compounds for the full goal timeline, so the dollars already saved do the most work.

Future value of a lump sum

Future value of monthly contributions (annuity)

FV_annuity = PMT × ((1 + r)^n − 1) / r

FV_annuity = $100 × ((1 + 0.003750)^10 − 1) / 0.003750

= $1,017

This is the standard future-value-of-an-annuity formula for equal monthly deposits made over time.

Future value of an ordinary annuity

Projected balance at the goal date

FV_lump + FV_annuity

$0 + $1,017

= $1,017

When the solver stops, this is the first projected balance that meets or exceeds your target amount.

Compound savings identity

Total interest earned

Interest = projected balance − (current savings + monthly contributions)

$1,017 − $1,000

= $17

Interest is the portion of the ending balance that comes from compounding rather than your own deposits.

Savings interest decomposition

Progress percentage

progressPct = currentSavings / targetAmount × 100

progressPct = $0 / $1,000 × 100

= 0.0%

This shows how much of the goal is already funded today before future deposits and interest are added.

Goal progress ratio

Sensitivity to an extra monthly deposit

saved months = base months to goal − months to goal with extra contribution

10 − 7

= $50/mo more saves 3 months

Small increases in your monthly contribution shorten the goal timeline because every extra dollar compounds for multiple future months.

Scenario analysis using the same iterative future-value solver

Key insight

HYSA accounts paying 4.5% APY let your savings work while you sleep. Even small monthly contributions compound significantly over 12–24 months.

#ShowYourWork

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