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How will my savings grow over time?

Project how your savings will grow with compound interest. See the power of consistent investing over time.

What This Calculator Is

A savings growth calculator projects how your money will grow over time with compound interest. It shows the combined power of regular contributions and earned returns, demonstrating how starting early and staying consistent builds substantial wealth. The calculator accounts for monthly compounding to provide accurate projections of your future balance.

Who This Calculator Is For

Anyone building an emergency fund, saving for a major purchase, or accumulating wealth for retirement. New savers use it to understand compound interest, while experienced investors use it to set contribution goals. Parents use it to project college savings, and retirees use it to plan how long their savings will last.

When to Use This Calculator

Use this calculator when starting any savings goal to set realistic timelines, when deciding how much to contribute monthly, when comparing different account types with different returns, or when demonstrating to others (children, partners) the value of consistent saving. Update your projections annually as contribution amounts or expected returns change.

Inputs

$10,000.00
$500.00
7.000%
20

Results

Future Value

$300,850.72

Total Contributions$130,000.00
Investment Earnings$170,850.72

This calculator provides estimates for informational purposes only.

Insights

Compound growth power

Your contributions of $130,000.00 will grow to $300,850.72, earning $170,850.72 in investment returns.

How Savings Growth Is Calculated

The calculator uses compound interest formulas to project growth. Your initial investment grows, plus each monthly contribution is added and compounds from its contribution date. Returns compound monthly for accuracy.

futureValue = initialAmount*(1+monthlyRate)^n + monthlyContribution*[((1+monthlyRate)^n - 1)/monthlyRate], monthlyRate = annualReturn/100/12, n = years*12 (ordinary annuity, contribution at end of month).
totalContributions = initialAmount + monthlyContribution*n; totalEarnings = futureValue - totalContributions.
Where: initialAmount, monthlyContribution, annualReturn (%), years.
Assumptions: monthly compounding of a single blended rate; contributions made at end of each month (ordinary annuity, not annuity-due); no fees, taxes, or inflation adjustment; if rate=0, contributions simply sum linearly.

Key Takeaways

  • •Time in the market beats timing the market — start as early as possible
  • •Increase contributions when you get raises to accelerate growth
  • •A 7% return is a common historical estimate for diversified stock portfolios
  • •Don't forget to account for inflation — real returns are lower than nominal
  • •Consistency matters more than perfect timing — automate your contributions

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