Savings Calculator

Enter what you can put aside each month and see what you will have years from now.

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Results

Final balance
$80,839.67
Total deposited
$70,000.00
Interest earned
$10,839.67
Share of interest in the balance
13.41%

Interest compounds monthly and deposits are made at the end of each month. Tax and inflation are not included.

Regular saving draws its power from two sources: the money you add each month and the interest on it. That interest then earns interest of its own — compounding — and the effect multiplies the longer you save.

The calculator grows your starting balance and monthly deposits at the annual rate you give, compounded monthly, and shows separately how much you paid in and how much came from interest.

How to calculate Savings

  1. Enter what you have saved today, or leave it at zero.
  2. Enter your monthly deposit and the annual interest rate you expect.
  3. Enter the number of years, then check the final balance and the year-by-year table.

Savings formula

  • Monthly rate i = annual rate ÷ 12
  • Balance = start × (1 + i)ⁿ + deposit × ((1 + i)ⁿ − 1) ÷ i
  • n = number of months

Savings example

Starting with 10,000 and adding 1,000 a month at 10% a year for 5 years leaves about 93,890. You paid in 70,000 and earned 23,890 in interest.

Savings: common questions

How do I allow for inflation?

Enter the real rate — your interest rate minus inflation — instead of the nominal one. The result is then in today’s purchasing power.

Is tax deducted?

No. If interest is taxed where you live, enter the after-tax rate for a more realistic figure.

Why does starting early matter so much?

Because interest earns interest. Saving the same amount for 20 years ends up with far more than double what 10 years gives.