Investment Calculator Canada
Estimate how your money can grow over time with compound interest and regular contributions. Whether you're investing in a TFSA, RRSP, or a standard account, this tool provides precise growth potential and future value projections.
Why Use an Investment Calculator?
An investment calculator helps you estimate future portfolio value, understand the power of compound growth, and plan contributions to reach financial goals. It allows you to compare different investing strategies and adjust for inflation, ensuring your long-term financial plan stays on track.
Frequently Asked Questions
How does this investment calculator work?
This calculator estimates your investment growth based on starting amount, contribution frequency, interest rate, and time horizon using the power of compound interest.
What is a good rate of return for investments in Canada?
Typical long-term average returns for diversified investments in Canada range from 5% to 8% per year, depending on market conditions and your asset mix.
What is the difference between TFSA and RRSP?
A TFSA allows your investments to grow tax-free, while an RRSP provides tax-deductible contributions with deferred growth, taxed only upon withdrawal.
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How Compound Interest Works
Compound interest is the snowball effect where your investment earns returns on both your original contributions and previous growth. Over decades, even small, consistent contributions can lead to significant wealth accumulation as your money grows faster the longer it remains invested.