Net Worth CandlesSavings rate calculator
Enter what you earn and what you spend in a month. See your savings rate, what it adds up to in a year, and roughly how long until your savings could cover your spending.
Monthly or yearly figures both work — the rate comes out the same.
Assumptions
Calculated in your browser. Nothing is uploaded.
Your savings rate
30%
- Saved per month
- 1,500
- Saved per year
- 18,000
- Each month covers
- 13 days of spending
- Years to financial independence
- 28 years
A simple estimate, not financial advice. It assumes your spending stays the same and returns are steady; your savings are “enough” at yearly spending ÷ withdrawal rate.
How the savings rate is worked out
- Savings rate = (income − spending) ÷ income. Use take-home pay, the money that actually lands in your account.
- Anything you don’t spend counts as saved: money left in the bank, investments, extra payments on a loan.
- Years to financial independence: how long until your savings reach your yearly spending ÷ the withdrawal rate — 25 times a year of spending at 4%.
Questions
What is a good savings rate?
A common rule of thumb is to save at least 20% of take-home pay, as in the 50/30/20 budget. Saving more shortens the road quickly: with this calculator’s default assumptions, going from 20% to 50% cuts the time to financial independence from about 37 years to about 17.
Should I use income before or after tax?
After tax is simplest, because it is what you actually see. If you also put money into a pension or retirement account before tax, add those contributions to your income here — they are savings too.
Why does the savings rate matter more than income?
Because it sets both sides of the equation: how much you put away, and how much you need. Someone who saves half of what they earn also lives on the other half, so they need a smaller pot and fill it faster.
Is anything I type stored?
Nothing is uploaded. The numbers are worked out in your browser and kept only in this browser’s local storage, so they are still here next time.