How this works
This compounds an initial amount plus regular monthly or yearly contributions at your chosen compounding frequency — the same mechanics as the Compound Interest calculator, framed here around building toward a lump-sum goal rather than a one-off calculation.
Common questions
Should I add my contribution monthly or yearly?
Monthly generally results in a slightly higher final value for the same total amount invested, since money goes in sooner and has more time to compound — pick whichever matches how you'll actually be investing, though, for a realistic estimate.
What if my expected return changes over time?
This uses one fixed rate for the whole period — if you expect returns to differ across phases, run the calculation separately for each phase and add the amounts, since a single blended average isn't the same as compounding through changing rates.