Savings goals
How long does it take to save $50,000?
Starting from $0, saving $1,000 a month reaches $50,000 in 4 years and 2 months, with no interest.
The example at a glance
- $500 each month
- 8 years and 4 months
- $1,000 each month
- 4 years and 2 months
- $1,500 each month
- 2 years and 10 months
- $2,000 each month
- 2 years and 1 month
Make the example fit your life
Already having $12,500 reduces the remaining target to $37,500. At $1,000 a month with no interest, that would take 3 years and 2 months. Compare up to four plans below to choose a contribution that fits your budget.
Does adding interest guarantee an earlier finish?
The calculator assumes a fixed rate and monthly compounding. Actual savings rates, taxes and fees can change the outcome. Keep the 0% scenario as a contribution-only comparison and use a rate appropriate to your account for another scenario.
Explore another example
These examples show the stated assumptions. Calculators and reports are educational estimates; rates and local costs can differ. Calculation assumptions.