A clearer financial decision
What could $300 a month become—and what does waiting cost?
Compounding means that gains left invested can earn further gains. More time creates more opportunity for that effect, but contributions, costs and actual returns still determine the outcome.
Updated October 1, 2026 · Canadian planning context
Small contributions can do meaningful work
An amount you can keep contributing is more useful than an ambitious target you repeatedly stop. Starting earlier gives each contribution longer to grow. Starting later can still make progress, but reaching the same target may require more money, more time or a different goal.
“Can I just catch up by taking more risk?”
A higher assumed return makes the calculator result larger; it does not make that return achievable. Investments can lose value, and losses near a spending date may force a change of plan. Compare contribution and time changes before assuming higher returns.
The balance is not the same as purchasing power
Fees reduce what stays invested. Tax can reduce what you keep, depending on the account and investment. Inflation increases future costs. A target expressed in today’s dollars needs a different interpretation from the same number twenty years from now.
Try three scenarios
Run the savings calculator with a cautious return, your working assumption and 0% to see contributions alone. Keep the monthly amount the same and change the years. Then compare an amount you could sustain if your income fell. Short-term or emergency money may need stability and access more than long-term growth.
A simple example
With $0 initially and $300 deposited at each month-end, a hypothetical 5% effective annual return gives about $46,309 after 10 years, $121,741 after 20 and $244,613 after 30. Contributions are $36,000, $72,000 and $108,000 respectively. These rounded illustrations exclude fees, tax and inflation; returns are constant only in the example and are not guaranteed.
Questions to take into a conversation
- What contribution can I sustain?
- Is my target in today’s dollars or future dollars?
- What happens if returns are lower or I need the money earlier?
Check the details
General education, not personalized financial, investment, tax, legal or insurance advice. Examples are illustrative. Rules and eligibility can change; confirm current details and policy terms. Ramandeep Singh’s practice covers insurance and suitable insurance-based savings options; other decisions may require appropriately qualified professionals.