Does this account for tax on returns?

No — the rate you enter is treated as an after-tax return. If your savings are in a tax-advantaged wrapper (ISA, 401(k)), use the gross rate; otherwise, subtract expected tax first.

What if I can't hit my goal?

Try increasing the monthly contribution, lengthening the horizon, or picking an investment with a higher expected return (accepting more risk).

Are returns guaranteed?

No. This is a projection based on a constant assumed return. Real market returns vary; use conservative assumptions for planning.

Savings Goal Calculator

Enter your goal, current savings, monthly contribution and expected return to see when you'll hit your target.

Your details

Savings goal

Current savings

Monthly contribution

Expected annual return

Time to reach goal

6.2 yrs

74 months in total

Goal

£50,000

Projected balance

£50,035

Projected growth

How this is calculated

We simulate your savings month by month: each month applies 1/12 of your expected annual return, then adds your monthly contribution. As soon as the balance meets or exceeds your goal, we stop and report the elapsed time.

If your expected return and contribution are both zero, the goal is unreachable. If growth alone is far below your goal and contributions are small, hitting the target could take decades — the calculator caps at 100 years and marks it as unreachable.