How could my savings grow over time?
Enter a starting amount, a monthly amount and a yearly rate. See how compounding works over the years.
Contributions Growth · by year
Illustration only. Returns are not guaranteed and can be negative. Fees and taxes reduce growth.
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How this works
We add your monthly amount, then apply growth each month at your yearly rate divided by 12. This shows how compounding works.
This is an illustration, not a forecast. Real returns go up and down, are not guaranteed, and depend on fees, taxes and the account or product. Finance Woman does not recommend any investment.
Educational estimate only. Finance Woman shares financial education, insights and general information for women in Canada. We are not a registered or licensed financial, investment, tax or legal adviser, and we do not sell or recommend financial products. Do your own research and speak to a licensed professional before you act.
Questions
What rate should I use?
Use a few different rates to see a range. A high-interest savings account or GIC pays a known rate. Market investments do not have a guaranteed rate.
What is compound growth?
Growth on your growth. Each month, growth is calculated on your contributions plus all the growth so far.
Related guides
Investing 101 for Women in Canada: Where to Start
Many of us were taught to save, but not how to grow our money. This beginner’s guide explains the core investing concepts every Canadian woman should know.
RRSP vs TFSA: Which One Fits You Best as a Canadian Woman?
RRSP or TFSA? Learn how each account works, how they compare, and how your income, goals and life stage can shape your choice.
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