Department of Labor Federal Credit Union

How Long Until I Reach My Savings Goal?

Step 1: Have a goal. Use this calculator to find out how long it will take you to reach your savings goal.

Your Information

Current Savings Balance:
Desired Savings Goal:
Annual Savings Rate:
Your Federal Tax Rate:
Your State Tax Rate:
Estimated Inflation Rate:

Current Savings Balance

Enter the amount of money currently saved.

Desired Savings Goal

Enter the total amount of money you want to save.

Annual Savings Rate

Enter the average annual savings rate (or interest rate) for the account in which your savings are kept.

Federal Tax Rate

Enter your federal tax rate. If you are using a tax free savings instrument, then enter 0%.

State Tax Rate

Enter your state tax rate. If you are using a tax free savings instrument for the state in which you reside, then enter 0%.

Inflation Rate

Enter the expected inflation rate for the period in question. The historical average is about 3%.


Department of Labor Federal Credit Union

Serving employees and contractors who work for the Department of Labor, their families and associated organizations. See website for details.

200 Constitution Ave
Rm S-3220
Washington, DC 20210-0001
(202) 789-2901

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