实际收益率计算器 Real Return Calculator
在扣除通胀影响后，估算投资的真实购买力增长（Real Return）。
Estimate the real (inflation-adjusted) return and the growth of purchasing power after accounting for inflation.
1. 输入参数 · Parameters
3. 使用说明 · Notes 中英详细版
① 什么是“实际收益率”？ / What is Real Return?
实际收益率（Real Return）就是把“名义收益率”扣除通胀之后，剩下的购买力增长。很多时候你看到资产涨了，但能买到的东西没多多少，原因就在这里。
Real return measures how much your purchasing power grows after inflation. Your portfolio may go up, but what you can actually buy might not improve as much.
实际收益率（Real Return）就是把“名义收益率”扣除通胀之后，剩下的购买力增长。很多时候你看到资产涨了，但能买到的东西没多多少，原因就在这里。
Real return measures how much your purchasing power grows after inflation. Your portfolio may go up, but what you can actually buy might not improve as much.
② 本工具使用的核心公式 / Core Formula Used
本工具采用更严谨的“费雪近似的精确版本”（精确折算），而不是简单的“名义 − 通胀”。
This tool uses the more accurate inflation adjustment (exact compounding form), instead of simply “nominal − inflation”.
Real = (1 + Nominal) / (1 + Inflation) − 1
本工具采用更严谨的“费雪近似的精确版本”（精确折算），而不是简单的“名义 − 通胀”。
This tool uses the more accurate inflation adjustment (exact compounding form), instead of simply “nominal − inflation”.
Real = (1 + Nominal) / (1 + Inflation) − 1
③ 为什么不能直接用“名义收益率 − 通胀率”？ / Why not just Nominal − Inflation?
在低利率、低通胀时，直接相减差别不大；但在更高波动或更长周期下，差异会累积并变得明显。更重要的是，“相减”会在某些边界情况下产生误差（例如高通胀或负通胀）。
When rates are small, subtraction is close. But over long horizons or higher rates, differences compound and become meaningful. Subtraction can also be inaccurate in edge cases (high inflation or deflation).
在低利率、低通胀时，直接相减差别不大；但在更高波动或更长周期下，差异会累积并变得明显。更重要的是，“相减”会在某些边界情况下产生误差（例如高通胀或负通胀）。
When rates are small, subtraction is close. But over long horizons or higher rates, differences compound and become meaningful. Subtraction can also be inaccurate in edge cases (high inflation or deflation).
④ 复利频率怎么选？ / How to choose compounding frequency?
如果你输入的是“年化收益率”（常见的长期回报预期），选择“每年”就足够了；如果你更偏向用“APR（按月计息）”的语境（例如某些理财产品/债券/贷款式产品），可以选择“每月”。“每日”更多用于理论展示。
If you’re using a typical long-term annual expected return, “Annually” is fine. If you interpret the APR as monthly-compounded in your context, choose “Monthly”. “Daily” is mostly for theoretical illustration.
如果你输入的是“年化收益率”（常见的长期回报预期），选择“每年”就足够了；如果你更偏向用“APR（按月计息）”的语境（例如某些理财产品/债券/贷款式产品），可以选择“每月”。“每日”更多用于理论展示。
If you’re using a typical long-term annual expected return, “Annually” is fine. If you interpret the APR as monthly-compounded in your context, choose “Monthly”. “Daily” is mostly for theoretical illustration.
⑤ 如何读懂结果？ / How to interpret the results?
• 名义期末金额：账户余额/账面数字（未扣通胀）。Nominal ending value = the number you see on the statement.
• 真实期末购买力：把未来的钱按通胀折算成“今天的钱”，更贴近你真实能买到的东西。Real ending value = future money expressed in today’s purchasing power.
• 累计通胀倍数：例如 10 年累计通胀倍数为 1.34，意味着“同样的东西”平均贵了约 34%。Inflation factor shows how much the price level grows.
• 名义期末金额：账户余额/账面数字（未扣通胀）。Nominal ending value = the number you see on the statement.
• 真实期末购买力：把未来的钱按通胀折算成“今天的钱”，更贴近你真实能买到的东西。Real ending value = future money expressed in today’s purchasing power.
• 累计通胀倍数：例如 10 年累计通胀倍数为 1.34，意味着“同样的东西”平均贵了约 34%。Inflation factor shows how much the price level grows.
⑥ 常见误区提醒 / Common Pitfalls
• 通胀不是“每年固定”的，本工具是估算器：用于做大致规划，而不是预测未来。Inflation is not constant; this is an estimator for planning, not forecasting.
• 若通胀率为负（通缩），真实收益可能会被“抬高”。If inflation is negative (deflation), real return can be boosted.
• 不同国家/地区的 CPI 口径不同；你也可以把“通胀率”理解为你个人生活成本的平均增长率。CPI differs by region; you may use your personal cost-of-living growth as an alternative.
• 通胀不是“每年固定”的，本工具是估算器：用于做大致规划，而不是预测未来。Inflation is not constant; this is an estimator for planning, not forecasting.
• 若通胀率为负（通缩），真实收益可能会被“抬高”。If inflation is negative (deflation), real return can be boosted.
• 不同国家/地区的 CPI 口径不同；你也可以把“通胀率”理解为你个人生活成本的平均增长率。CPI differs by region; you may use your personal cost-of-living growth as an alternative.
⑦ 小例子（帮助直觉） / Tiny Example (for intuition)
假设名义收益 8%，通胀 3%，期限 10 年：真实收益并不是 5%（简单相减），而会略低一点点；但随着期限变长，这个差异会越来越明显。
With 8% nominal, 3% inflation, 10 years: the real return is not exactly 5%. The gap is small at first, but grows over time.
假设名义收益 8%，通胀 3%，期限 10 年：真实收益并不是 5%（简单相减），而会略低一点点；但随着期限变长，这个差异会越来越明显。
With 8% nominal, 3% inflation, 10 years: the real return is not exactly 5%. The gap is small at first, but grows over time.
免责声明：本工具为教育与估算用途，未考虑税费、交易成本、现金流出入、再平衡、实际通胀路径、汇率等因素；结果不构成任何投资建议。
Disclaimer: For education/estimation only. Taxes, fees, cash flows, rebalancing, real-world inflation paths, FX effects, etc. are not included. Not investment advice.