About the Monthly Savings Calculator
Small, regular deposits add up to surprising sums once compounding is involved. This calculator projects a fixed monthly deposit forward and shows the split between what you contributed and what you earned.
How it’s calculated
Future balance = P(1+i)^N + C·[((1+i)^N − 1) ÷ i], where P is any starting balance, C the monthly deposit, i the monthly return, and N the number of months.
Example calculation
Saving $500 a month at a 7% return for 20 years grows to about $260,000 — with well over half of it from growth.
Frequently asked questions
Does starting earlier really matter?
Enormously. Because growth compounds, the earliest contributions have the most time to multiply — starting a few years sooner can outweigh saving much more later.
Where should I keep monthly savings?
It depends on the timeline: a high-yield savings account for short-term goals, and a diversified investment account for long-term ones.
Projections are illustrative and assume a constant rate of return; real investments fluctuate and may lose value. Past performance does not guarantee future results. This is not investment advice.