Project the growth of your investment over time with regular contributions and compound returns.
Rates as of Q2 2025 (example)
This calculator projects how an investment portfolio could grow over time, combining an initial investment, regular monthly contributions, and an expected annual rate of return — giving you a sense of the difference between what you put in and what you could end up with through investment growth.
This calculator compounds your balance monthly using your expected annual return: each month, growth is calculated on the current balance and added to it, and then your monthly contribution is added. Over a long time horizon, growth compounds on both your contributions and previously earned growth, which is why the gap between your contributions and your final balance widens substantially over longer periods.
Formula: Each month, Growth = Balance × (Annual Return ÷ 12); Balance = Balance + Growth + Monthly Contribution. Total Growth = Final Balance − Total Contributions (Initial Investment + sum of all monthly contributions).
Example: Starting with CA$10,000 and contributing CA$300/month at an expected 6% annual return (example rate — enter a rate appropriate to your portfolio, recognizing that actual returns vary and aren't guaranteed) over 15 years, total contributions reach CA$64,000, with total growth of roughly CA$47,787 — giving a projected balance of about CA$111,787. (Note: this example is for illustration purposes only - actual investment returns vary and can be negative in some years.)
Where you hold your investments significantly affects your after-tax returns. A Tax-Free Savings Account (TFSA) lets investment growth - including dividends and capital gains - accumulate and be withdrawn completely tax-free (see our TFSA Calculator). A Registered Retirement Savings Plan (RRSP) defers tax on growth until withdrawal, typically in retirement (see our RRSP Calculator). In a non-registered (taxable) account, investment income is taxed annually, though dividends and capital gains often receive more favourable tax treatment than interest income (see our Compound Interest Calculator for more on this distinction). Investment fees, often expressed as a Management Expense Ratio (MER) for mutual funds and ETFs, directly reduce your net return - a seemingly small difference in fees (e.g., 1% vs 0.25% MER) can compound into a substantial difference in your final balance over a long time horizon, since fees compound against you the same way returns compound for you. Diversification across asset classes (equities, bonds, and others) and geographies is a core principle of most long-term investment strategies, and the expected return you enter should reflect your actual portfolio's mix, not just one asset class.
Use a rate that reflects your portfolio's actual asset mix and a reasonable long-term expectation for that mix, net of fees. Keep in mind that actual returns vary year to year and can be negative - a single "expected" rate is a simplification used for projection purposes, not a guarantee.
More than they might appear. Fees (expressed as a Management Expense Ratio, or MER, for funds) reduce your net return every year, and this reduction compounds over time just as growth does. A 1% difference in fees over a 30-year horizon can result in a final balance tens of percent lower - try subtracting your fund's MER from your expected return to see a more realistic net-of-fees projection.
This depends on your tax bracket, available contribution room, and time horizon. TFSAs offer tax-free growth and withdrawals, RRSPs offer tax-deferred growth with withdrawals taxed as income, and non-registered accounts have no contribution limits but are taxed annually on income generated. Many investors use a combination based on their available room - see our TFSA Calculator and RRSP Calculator for more detail.
No. This calculator applies a single, constant expected return each month, which smooths out the reality of investment returns - actual portfolios experience ups and downs, sometimes significant ones, even if the long-term average matches your expected rate. This is sometimes called "sequence-of-returns risk," and it matters more the closer you are to needing the money.
Increasing your monthly contribution increases both your total contributions and the base on which growth compounds going forward - even modest increases can have a meaningful effect over long time horizons. Try adjusting the contribution amount to see how sensitive your projected balance is to this input.
It can be a useful starting point for projecting investment growth, but our dedicated Retirement Calculator additionally estimates a monthly income figure based on your projected balance using a withdrawal rule, and can be a better fit if retirement income planning is your specific goal.
Disclaimer: The information, rates, and figures provided on this page are for educational and illustrative purposes only and do not constitute financial advice. The expected return rate is an example only and does not represent a guaranteed or likely return for any investment - investment values can fall as well as rise, and past performance does not guarantee future results. This calculator does not account for fees, taxes, or market volatility. Always consult a qualified financial adviser for personalised investment advice.