What this calculator shows you
- Growth Projection
- See future savings value
- Regular Deposits
- Include monthly contributions
- Interest Earnings
- Calculate compound interest
- Goal Planning
- Find savings needed for goals
The Power of Consistency
Small, regular deposits grow significantly over time. $500/month at 5% for 20 years becomes over $200,000. Start with what you can afford and increase over time.
Where to Save
High-yield savings accounts usually pay far more than the FDIC national average savings rate (0.38% in October 2026); check current APYs before you choose. Money market accounts and short-term CDs are other options. Match the account type to your time horizon.
Questions people ask
How much should I save?
Aim for 20% of income, including retirement. Start with whatever you can manage and increase by 1% each year. Automate savings so it happens before you can spend it.
Education only, not personalized financial, tax or investment advice. Results are estimates based on the numbers you enter; real returns vary and losses happen.