Investment Return Calculator

How much could your money be worth in a few years? Enter an initial amount, a monthly contribution and the annual return you expect (for example, that of an index such as the S&P 500) and see the projection in nominal terms and in real terms, with inflation already taken out.

Initial amount€Monthly contribution€/moExpected annual return (%)%YearsAverage annual inflation (%)%

The return is an estimate: the long-run historical average of an index like the S&P 500 is around 7% in real terms. Inflation adjusts the result to today's money (ECB target: about 2%).

Projected value

€124,379

Total invested

€53,000

Gain (nominal)

€71,379

Real value (in today's money)€83,704

Real gain (in today's money)€30,704

Year-by-year growth

Year	Invested	Real value	Projected value
1	€7,400	€7,686	€7,840
2	€9,800	€10,463	€10,885
3	€12,200	€13,334	€14,151
4	€14,600	€16,308	€17,652
5	€17,000	€19,389	€21,407
6	€19,400	€22,584	€25,433
7	€21,800	€25,899	€29,750
8	€24,200	€29,342	€34,379
9	€26,600	€32,920	€39,343
10	€29,000	€36,641	€44,665
11	€31,400	€40,513	€50,373
12	€33,800	€44,544	€56,493
13	€36,200	€48,744	€63,055
14	€38,600	€53,121	€70,092
15	€41,000	€57,686	€77,637
16	€43,400	€62,448	€85,728
17	€45,800	€67,420	€94,404
18	€48,200	€72,611	€103,707
19	€50,600	€78,035	€113,682
20	€53,000	€83,704	€124,379

Educational estimate, not financial advice. Returns are not guaranteed and investments can lose value.

Video: how to use the calculator

What this calculator does

It projects an investment with monthly compounding: it starts from an initial amount, adds a contribution every month and grows the balance at the return you set. It shows the final value, how much you put in and the gain produced.

Nominal value and real value

The nominal value is the number you will see in the account in the future. The real value translates that amount into today’s purchasing power by removing inflation: FV_real = FV_nominal ÷ (1 + inflation)^years. The real value is what tells you what the money is actually worth.

Which return to use

The return is an estimate, not a guarantee. For a global stock index like the S&P 500, the long-run historical average is around 7% a year in real terms (above inflation). Use a prudent rate and remember that investments carry risk and can lose value.

Worked example

With €5,000 to start, €200 per month, at a 7% annual return over 20 years, you invest €53,000 in total and the projected balance is about €124,379. With 2% inflation, that is worth about €83,704 in today’s money: a real gain of roughly €30,704.

Frequently asked questions

What is the difference between nominal and real value?

The nominal value is the future amount as it appears. The real value adjusts that amount for inflation, showing its purchasing power in today’s euros. It is the more honest measure of what the investment really earned.

What annual return should I use?

It depends on what you invest in. For global equities, the long-run historical average is around 7% real per year, but there are negative years. For a prudent estimate, use a moderate rate and compare scenarios.

Are the results guaranteed?

No. It is an educational estimate with a fixed return. Real returns vary year to year, investments can lose value, and this is not financial advice.

Does the calculator take tax off?

No. It shows gross growth. In Portugal, capital gains on shares and funds are generally taxed at 28%. To project net figures, use a slightly lower return rate.

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Sources

Todos Contam: Portal de educação financeira — Banco de Portugal

Author: Thorben Rasmus Idel · Reviewed by: Nahar Geva · Last reviewed: 2026-06-10