Hi if anyone is ever interested in doing future projections you can of course use compound interest uk calculator.

I really wanted to try nail it on a calculator then once I learned finally it took my simple maths brain a while to do it I then moved the calculator version onto my spreadsheet. Now I can project whatever money I put per month, what age I will be when I hit the target etc pretty fun.

I was in the politics forms where 3 of us kept battling with it as they kept giving me the simple formula of x amount what will it be in 10 years.

We had a teacher I think someone else who was good at maths we all chipped in we did have an accounted but he bailed haha, then a new section called maths got named for topics like I had asked so we could sit and pickle eaxh others brains haha.

I kept saying no but I have started with x amount but want to make contributions monthly to it with monthly interest.

Of course with the stock market is actully hard to to this with because the rates you get change daily etc but itâ€™s just taking a rough guide of what you could get.

I like to set it low like 3% returns per year this way I know I should hit my target even with low returns.

The 0.0041 number is whatever interest you pick 5% divided by 12 then divided by 100 then you can plug in the numbers.

The power to 60 is 5 years. 12 months x 5

I think the rest is standard. It was fun to learn anyways maybe a pain to type on a calculator but once embedded into a spreadsheet wowieee

I have projections for both my SIPP & my girls JISAâ€™s to project out. Iâ€™m slightly above my projections on my SIPP but Iâ€™m stuck in a â€śhow much is enoughâ€ť swamp. Iâ€™ve read everything but it still always makes me think â€¦ but maybe some more would be helpful. Canâ€™t have jam today and jam tomorrow - itâ€™s a tricky balance to strike.