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What does steady saving turn into?

A monthly amount, a number of years and a growth rate. The interesting line is how much of the final figure is growth rather than your own money.

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5 years the minimum sensible horizon
41% exit tax on most investment funds
1% the charge difference that compounds against you
Before you start

Three things first

Any adviser who skips these is doing it wrong.

01 An emergency fund on deposit. Three to six months of outgoings, somewhere you can get at it immediately. This never gets invested.
02 Expensive debt cleared. Paying off a credit card at 20% is a guaranteed 20% return.
03 Pension relief used. Relief is an immediate 40% or 20% before anything grows, so it is usually the better home for the money.
Try it

What it turns into

Put in a monthly amount, how long you would leave it, and a growth rate after charges.

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Thanks. We will send that over shortly, and one of our advisers will follow up if you would like.

Illustrative only and not personal advice. A simplified projection using steady growth, which real markets do not provide. Investments can fall as well as rise and you may get back less than you invest. Gains on most life assurance investment funds are taxed at 41% exit tax, and the deposit comparison assumes 1% before DIRT.

What the answer means

Most of it is not your money

The growth line is the point of the exercise. Stretch the years out and watch that share climb.

01 Charges compound just like returns do. A 1% difference across twenty years is a large number, and it is the one thing you can control.
02 Nobody times the market. Regular monthly investing removes the temptation to try, and it smooths the price you pay.
03 The cost of waiting is real. The last row shows what a single year of delay costs at the end.
04 Risk is what you can live with. The worst outcome is selling at the bottom, so the right level is the one that lets you sit still.
Book a call

Pick a date and time that suits you.

No sales pitch, just a conversation about what you already have, what it is heading for and whether we can improve it. You will get a written summary either way.

Cian O’Sullivan Director and Financial Adviser, Finnegan Maguire
30 minutes Phone or video call, no charge
Rather just ring? Call 0818 44 55 66 or email go@splash.ie
What we advise on

Everything we look after

Mortgages Buying, moving or switching First-time buyers Approval, deposit and Help to Buy Pensions What yours is actually heading for Retirement The lump sum, the tax and the income Life and income cover Insuring what pays for everything Specified illness A lump sum on diagnosis Savings and investments Money that is not going into a pension Inheritance The tax your family pays For business owners Getting money out of the company Keyperson cover Protecting the business itself Stepping back or selling You get one exit, no practice run Find an old pension From a job you left Mortgages Buying, moving or switching First-time buyers Approval, deposit and Help to Buy Pensions What yours is actually heading for Retirement The lump sum, the tax and the income Life and income cover Insuring what pays for everything Specified illness A lump sum on diagnosis Savings and investments Money that is not going into a pension Inheritance The tax your family pays For business owners Getting money out of the company Keyperson cover Protecting the business itself Stepping back or selling You get one exit, no practice run Find an old pension From a job you left