Savings calculator
See what your savings can grow to with compound growth. You enter the return, the calculator works it out year by year.
Work out your savings
The return is an assumption, not a promise. Before tax and fees.
A starting amount or a monthly saving
You can pay in SEK 120,000 at once or SEK 1,000 a month for 10 years. You pay in the same amount, but at 5% a year the starting amount has grown to SEK 195,467 and the monthly saving to SEK 154,363.
The difference of SEK 41,104 comes from time. The starting amount grows for all 10 years, while each monthly payment only grows from the month it is paid in. The last payment has no time to grow at all.
Compound growth over 10, 20 and 30 years
This is how SEK 1,000 a month grows at 5% a year, with no starting amount.
| Period | Paid in | Return | Total |
|---|---|---|---|
| 10 years | SEK 120,000 | SEK 34,363 | SEK 154,363 |
| 20 years | SEK 240,000 | SEK 165,804 | SEK 405,804 |
| 30 years | SEK 360,000 | SEK 455,376 | SEK 815,376 |
After 10 years, 22% of the total is return; after 30 years, 56%. Between years 20 and 30 the savings grow by SEK 409,572, more than the whole total after 20 years, although you pay in only SEK 120,000 in those years.
The same saving at 2, 5 or 7% a year
Here you save SEK 1,000 a month for 20 years under three different assumptions about the return. The rates are examples to show the arithmetic, not forecasts.
| Assumed return | Return | After 20 years |
|---|---|---|
| 2% | SEK 54,232 | SEK 294,232 |
| 5% | SEK 165,804 | SEK 405,804 |
| 7% | SEK 267,536 | SEK 507,536 |
At 7% the total is SEK 213,304 higher than at 2%, although you pay in the same SEK 240,000.
What a yearly fee costs over 30 years
The example is SEK 1,000 a month for 30 years at 5% a year before fees. The fee is taken off the return each year, so 5% becomes 4.8% with a fee of 0.2% and 4% with a fee of 1%.
| Fee per year | After 30 years | Less than with no fee |
|---|---|---|
| None | SEK 815,376 | SEK 0 |
| 0.2% | SEK 787,225 | SEK 28,151 |
| 1% | SEK 685,271 | SEK 130,105 |
A fee of 1% takes 29% of the return over 30 years. To include a fee in the calculator, do the same: take the fee off the return you enter.
Common questions about saving
What is compound growth?
The return is added to what you have already saved, and next month that return earns a return too. Your money grows both on what you paid in and on earlier returns. It is often called compound interest (ränta på ränta in Swedish).
What return should I assume?
Nobody knows in advance. A savings account pays the rate the bank sets, while funds and shares can go up and down. The calculator uses the same return every year.
How long does it take to double my money?
At 5% a year an amount has doubled after 15 years, at 7% after 11 years and at 2% after 36 years, counted in whole years. The rule of thumb of dividing 72 by the return in per cent gives almost the same answer.
How much do I need to save each month to reach an amount?
To have SEK 100,000 after 10 years, SEK 648 a month is enough at 5% a year. With no return you need SEK 834 a month. Try your own goal by changing the monthly saving until the total matches.
Does the calculator include tax and fees?
No. The final sum is before tax and before fees. Both tax and fund fees reduce what you keep.
Does the calculator allow for inflation?
No. It shows the amount in kronor at the end of the period and does not allow for prices rising in the meantime. To see roughly what the total is worth in today's money, take the inflation you expect off the return.
When is the saving added?
The calculator adds the monthly saving at the end of each month and adds the return every month.
Why does another savings calculator give a different total?
Calculators turn the yearly return into a monthly one in different ways. This one uses the monthly return that gives exactly 5% over a year, 0.407% a month. Taking a twelfth instead, 0.417% a month, gives 5.12% over a year. With SEK 1,000 a month for 10 years that makes SEK 919 more.
Can I enter a negative return?
No. A value below zero counts as 0%, and the total is then what you have paid in. Funds and shares can fall, and you may then get back less than you paid in.
Does Kreddo compare savings accounts or funds?
No. Kreddo compares loans and cards. The savings calculator is a calculation tool and does not recommend any kind of saving or any product.