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Savings Goal Calculator: Reach Your Financial Goals

How to Use the Savings Goal Calculator

Want to hit your savings goal faster? Whether you’re saving for a major purchase or building financial security, our savings goal calculator helps you determine how much to set aside each month. Just enter your goal amount, timeline, and expected interest rate to see a customized savings plan tailored to your needs

Input Your Savings Details:

  • Current Savings Balance: Enter the amount you have already saved.
  • Desired Savings Goal: Specify the total amount you want to save.
  • Before-Tax Return on Savings: Input the expected annual return on your savings or investment account before taxes.
  • Marginal Tax Bracket: Enter your current tax bracket percentage to account for how taxes will impact your savings growth.
  • Once all the information is entered, click Calculate

Once you enter your details, the calculator will display:

  • Time to Reach Goal: The estimated number of months or years needed to reach the savings goal.
  • Total Interest Earned: The projected growth of savings before and after taxes.
  • Tax Impact on Savings: How much of the earned interest will be reduced due to taxes.

Take Control of Your Savings Goals

You have a goal in mind—now take the next step with a strategy designed to help you reach it faster and more efficiently.

Our team can help you:

  • Maximize savings growth by choosing high-yield savings or tax-advantaged accounts.
  • Increase contributions strategically to reduce the time needed to reach your goal.
  • Explore tax-deferred savings options like IRAs or 401(k)s to minimize taxable interest.
  • Regularly reevaluate and adjust your plan to stay on track as your financial situation changes.
  • Make informed decisions with expert guidance tailored to your savings goals.

Let’s create a savings plan that works for you. Call or visit your nearest Forward Bank location to get started today.

Insurance and Investment products are *Not FDIC Insured *No Bank Guarantee *May Lose Value *Not Insured by Any Federal Government Agency *Not a Deposit