What will it take to reach your savings goal? This financial calculator helps
you find out. Enter in your savings plan and view graphically your financial
results. Click the report button to get more information about your plan, and
what you can do to make sure that it is on track.
- Years to save
- The number of years you have to save.
- Savings goal
- The amount you wish to have in savings at the end of this
- Amount currently saved
- Total you currently have saved toward this savings
- Monthly savings
- The amount you will contribute each month to your
investments. This calculator also assumes that you make your contribution at
the beginning of each month.
- Expected Rate of Return
- This is the annually compounded rate of return
you expect from your investments. For the purposes of this calculator, taxation
is not factored into the results. If you pay taxes on the interest, dividends
or capital gains from these investments you may wish to enter your after tax
rate of return.
The actual rate of return is largely dependant on the type of investments you
select. For example, from January 1970 to February 2003, the average compounded
rate of return for the S&P 500, including reinvestment of dividends, was
approximately 11%. Savings accounts at a bank pay as little as 1% or less. It
is important to remember that future rates of return can't be predicted with
certainty and that investments that pay higher rates of return are subject to
higher risk and volatility. The actual rate of return on investments can vary
widely over time, especially for long-term investments. This includes the
potential loss of principal on your investment.
- Expected Inflation Rate
What you expect for the average long-term inflation rate.