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Savings Calculator

Savings Parameters

$
$
5.0%
10 years
2.0%

Results

Total Savings
$41,000
Future Value
Total Contributions
$36,000
Principal Amount
Interest Earned
$5,000
Earnings
Real Value
$33,600
After Inflation

Savings Breakdown

Savings Timeline

Year
Contributions
Interest
Total

Savings Information & Tips

Compound Interest

Compound interest is interest calculated on the initial principal and also on the accumulated interest of previous periods. It's often called "interest on interest".

Impact of Interest Rate

Even a small increase in interest rate can significantly boost your savings over time due to the power of compounding.

Time is Your Ally

The longer your money remains invested, the more time it has to grow through compounding. Start saving early!

Regular Contributions

Consistent monthly contributions, no matter how small, can dramatically increase your savings over the long term.

Smart Savings Tips

  • Pay yourself first - automate your savings
  • Take advantage of employer retirement matches
  • Create an emergency fund with 3-6 months of expenses
  • Review and adjust your savings plan annually
  • Consider tax-advantaged accounts like IRAs and 401(k)s