Savings Calculator

When you save money and earn interest, compound interest means you earn interest on your interest. Each month, your balance grows by (1 + rate/12), then you add your monthly contribution. Over decades, this creates significant growth.

For example, $10,000 initial plus $200/month at 5% for 20 years grows to about $95,000. Without contributions, the same principal would reach about $27,000. Regular contributions dramatically accelerate growth.

Inflation erodes purchasing power. A 3% annual inflation rate means prices double in about 24 years. The inflation adjustment shows your balance in 'today's dollars' — what your future balance could buy at current prices. A nominal 5% return with 3% inflation is a 2% real return. Plan for real growth, not just nominal numbers.

Use the goal calculator to see how long it will take to reach a target amount. Increase monthly contributions or the interest rate to shorten the timeline. Starting earlier has a huge impact: five extra years of compounding can add tens of thousands to your final balance. Small increases in monthly savings compound over time.