Montana Savings Goal Calculator
Plan your savings goals in Montana. Cost of living index 101.6, median income $60,560. See how long to save for your goal with interest.
How This Calculator Works
Calculation methodology and assumptions
Savings goal projection for Montana with cost-of-living context. Uses compound interest formula with monthly contributions. Montana's cost of living index of 101.6 (100 = national average) means savings goals may need to be higher than national benchmarks. The COL-adjusted figure shows what your goal would be at the national average cost of living.
Key State Information
Montana savings context: Median income $60,560/yr | Cost of living 101.6 (above average) | Recommended 6-month emergency fund: $30,280 | State tax rate up to 5.9%.
Frequently Asked Questions
How much should I save in Montana?
Financial experts recommend a 6-month emergency fund. In Montana (cost of living index 101.6), that's approximately $30,280 based on median income. Beyond that, aim to save 15-20% of gross income for retirement and other goals.
How long does it take to save $10,000 in Montana?
At Montana's median household income of $60,560, saving 15% ($757/mo) at 4.5% APY, you'd reach $10,000 in about 13 months. Higher contributions or returns shorten this timeline.
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