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Project a starting balance + monthly contributions forward, with any compounding frequency.
FV = PV·(1+i)^N + PMT·((1+i)^N − 1)/i, where i = r/n and N = n·t. Choose end- or beginning-of-period contributions.
End (ordinary annuity) is the default — you contribute at month-end and it earns interest starting next period. Beginning (annuity due) contributes at month-start and earns one extra period of interest, worth ~(1+i) more.
Higher frequency → slightly higher FV. Monthly vs annually on 6% for 20 years differs by only ~1–2%.
In a taxable account, the growth is taxed each year. Inside a 401(k) or IRA, growth is deferred until withdrawal.
For 20+ year horizons, diversified stocks have historically returned 7–10% nominal. Bonds ~4–5%. Adjust for your allocation.
Use r = nominal rate − inflation (a real return) to see today's-dollars value.
Results are estimates for educational purposes only and are not financial advice. Verify with a qualified professional before making decisions.
Last updated October 2026