Savings calculator questions, answered
How compounding, timing, tax assumptions, privacy, local saves and contact choices work.
Is this an account offer or a forecast?
No. Every rate and future contribution is your assumption. A constant-interest picture cannot guarantee what a bank will pay or what investments will return.
How are quarterly or annual rates used with monthly deposits?
A nominal annual rate and compounding frequency are converted into an equivalent monthly growth rate. This gives a consistent monthly planning ledger; it does not recreate a bank’s day-by-day statement.
Is the taxable balance taxed again every month?
Only the interest earned in that month is multiplied by your chosen interest-tax assumption. Contributions are not taxed repeatedly. It is a simplified illustration, not a personal tax calculation.
Are the TFSA and RRSP rows a recommendation?
No. They show equal nominal deposits under simplified assumptions. They do not check room, reinvest an RRSP deduction, calculate benefits or compare equal after-tax contribution cost.
Do you receive my calculator inputs?
The worksheets run locally. Saving a plan stores it on this browser. A separate enquiry can include a short worksheet summary only if you choose the sharing checkbox and review the exact preview.
Does asking Mitey sign me up?
No. AI questions, a contact enquiry and newsletter subscriptions are separate choices. Educational AI requires its own agreement; sending an enquiry or joining a newsletter requires separate express consent.
Can I keep the workings?
The savings CSV includes every assumption and monthly ledger row. Check that your browser saved the file. Guides have a print-friendly checklist; check the print preview before saving or printing.