FinCal

Savings plan

What a monthly savings plan grows to – after costs, German taxes and inflation, in today's money.

CSV

€335,036 after 25 years

After 25 years you have €335,036 after tax. In today's money that buys what €204,215 buys now.

You pay in €160,000; the rest – €175,036 – is growth. Taxes take €31,945. Running costs take €7,382.

Plan
Starting amount Money you invest once at the start (Einmalanlage), e.g. existing savings. Enter 0 if you only save monthly.
€
Savings plan German: Sparplan The amount you invest every month (Sparrate). Investing a fixed amount every month, for example into an ETF. Most German brokers offer them from €1–25 a month, often without fees. All terms in the glossary
€
For How long you keep saving and invested.
years
Return Average growth per year before costs and taxes. Nobody knows the future: a globally diversified stock ETF has historically returned about 5–7% a year over long periods, with large ups and downs along the way; savings accounts currently pay around 2%.
%
Product and taxes
Invested in Decides how gains are taxed. Interest on a savings account is taxed every year. A fund that reinvests its gains is taxed a little each year (advance tax) and the rest only when you sell.

Gains above your allowance are taxed at a flat 26.4% ( Flat tax on capital income German: Abgeltungsteuer A flat 25% tax on interest, dividends and investment gains, plus the solidarity surcharge and possibly church tax – 26.375% in total without church tax. German banks deduct it automatically. All terms in the glossary ), about 28% with church tax. For stock funds only 70% of the gain is taxed. The bank deducts it for you.

Saver's allowance German: Sparerpauschbetrag The first €1,000 of capital income per year are tax-free, €2,000 for married couples and civil partners filing jointly. To use it, give your bank an exemption order (Freistellungsauftrag); you can split it across several banks. All terms in the glossary
Allowance already used elsewhere Your allowance is shared by all your accounts and investments. Whatever other interest or dividends already use up is not available here. Check the exemption orders (Freistellungsaufträge) in your banking apps.
€
Church tax German: Kirchensteuer Only if you are a registered member of a church that collects it (e.g. Catholic or Protestant – you declared this when registering your address). It is 8% of the tax in Bavaria and Baden-Württemberg and 9% elsewhere. If you are not a member, choose "No church tax". All terms in the glossary
Partial tax exemption for funds German: Teilfreistellung Part of the gains from investment funds is tax-free, because the fund already pays some tax itself: 30% for equity funds (e.g. most stock ETFs) and 15% for mixed funds. Bond and money-market funds get none. All terms in the glossary
Base interest rate German: Basiszins Accumulating funds are taxed a little every January (Vorabpauschale), based on this rate. Leave it at the official value unless you want to try what a different rate would mean in later years. A rate the Ministry of Finance publishes every January, derived from long-term government bond yields. It is only used to calculate the Vorabpauschale – a higher Basiszins means more advance tax. All terms in the glossary
%
Sell everything at the end Fund gains are only fully taxed when you sell. Turn this off to see the value you would hold if you keep the fund invested.
More details
Raise savings every year by Increases the monthly amount once a year by this percentage (called Dynamik in German plans). Even 2–3% a year makes a big difference over decades.
%
Total expense ratio German: Laufende Kosten (TER) The yearly fund fee, taken out of the fund's value. Broad ETFs cost about 0.1–0.3% a year, actively managed funds often 1.5% or more – over decades that difference adds up to a lot. All terms in the glossary
%
Inflation How fast prices rise per year. The European Central Bank aims for 2%; that is a sensible long-term assumption.
%

Results update as you type.

Final value after tax Final value after tax What your account is worth at the end, after all taxes and running costs.
€335,036
In today's money In today's money The final value adjusted for inflation: what it would buy at today's prices. Prices rise over the years, so a euro later buys less than a euro now.
€204,215
Paid in Paid in Your own money: the starting amount plus all monthly savings.
€160,000
Gain after tax Gain after tax What the investment earned for you on top of what you paid in, after taxes and costs.
€175,036
Taxes Flat tax on capital income German: Abgeltungsteuer All tax on the gains over the whole period – including the yearly advance tax on funds and, if chosen, the tax when you sell. A flat 25% tax on interest, dividends and investment gains, plus the solidarity surcharge and possibly church tax – 26.375% in total without church tax. German banks deduct it automatically. All terms in the glossary
€31,945

How your money grows How your money grows Each bar is the value at the end of a year. The lower part is money you paid in yourself, the upper part is what the investment earned – that part grows faster over time because gains earn gains too (compound interest).

Paid in vs. growth after taxes and costs, at the end of each year

Nominal vs. today's money Nominal vs. today's money Nominal is the number on your statement. Today's money shows what that amount would buy at today's prices – the gap between the lines is what inflation eats.

At 2% inflation

Where the growth goes

Who ends up with what the plan produces

Paid in
€160,000 43%
Growth you keep
€175,036 47%
Taxes
€31,945 9%
Costs
€7,382 2%

Year by year

Year Monthly Paid in Value Today's money Taxes so far
1 €500 €16,000 €16,765 €16,437 €0
2 €500 €22,000 €23,922 €22,993 €0
3 €500 €28,000 €31,493 €29,677 €0
4 €500 €34,000 €39,503 €36,494 €0
5 €500 €40,000 €47,975 €43,453 €0
6 €500 €46,000 €56,939 €50,560 €0
7 €500 €52,000 €66,421 €57,823 €0
8 €500 €58,000 €76,427 €65,230 €24
9 €500 €64,000 €86,972 €72,774 €90
10 €500 €70,000 €98,083 €80,462 €200
11 €500 €76,000 €109,791 €88,301 €355
12 €500 €82,000 €122,129 €96,298 €559
13 €500 €88,000 €135,129 €104,459 €813
14 €500 €94,000 €148,828 €112,793 €1,122
15 €500 €100,000 €163,264 €121,307 €1,487
16 €500 €106,000 €178,475 €130,009 €1,912
17 €500 €112,000 €194,504 €138,907 €2,400
18 €500 €118,000 €211,394 €148,010 €2,954
19 €500 €124,000 €229,192 €157,325 €3,578
20 €500 €130,000 €247,947 €166,861 €4,275
21 €500 €136,000 €267,709 €176,628 €5,050
22 €500 €142,000 €288,534 €186,635 €5,907
23 €500 €148,000 €310,478 €196,892 €6,850
24 €500 €154,000 €333,601 €207,407 €7,884
25 €500 €160,000 €335,036 €204,215 €31,945