Savings Calculator
Everyone has goals for the future and our savings calculator
will help you to figure out how to save for those goals and
demonstrate the advantages of saving in a tax-deferred investment.
- Enter ballpark values by clicking on and dragging the
diamond-shaped sliders left or right. Enter exact numbers
by clicking on the number in the box on the right and type
your number (no commas).
- Solve for different variables by clicking on a label
name. A red check mark appears on the label of the variable
for which you are solving. You cannot change red-checked
values.
- The results of your calculations show in the box near
the bottom of the calculator.
- Click on tabs for details and for more options.
Savings Calculator Tab Use
our Savings Calculator Tab to quickly enter pertinent information
about your investment options and your savings goal.
Number of Years
You can either enter the number of years you plan to save
for a goal or click the button to discover how many years
it will take to save a certain amount of money by entering
other variables.
Annual Return
If you know your investments rate of return enter it here
or click this button to see what rate of return you'll need.
Opening Balance
If you want to see how much money you will need to reach your
goal click this button, or simply enter the amount of money
you have already saved.
Monthly Savings
Use this button to find out how much you should be saving
each month to reach your goal.
Ending Balance
Here you will enter the pre-tax amount that you want to save
and an after-tax accumulated amount will be shown at the bottom
of this tab. You could also use this button to see what a
realistic goal might be.
Results
The text in our results box will change based on the information
you enter and which variable has the red check mark on it.
Tax Rate
Here you should enter you income tax rate.
Compounding
Use this drop down to choose the compounding interval that
matches your savings account.
Growth Graph Tab The Growth
Graph Tab compares a taxable vs. a tax-deferred savings investment
to show you how much you will have accumulated.
Tax Rate
Enter you income tax rate.
Graph
The graph shows the difference in a taxable and a tax-deferred
savings investment. You can use the slider at the bottom of
the graph to see a readout of your savings at any one point.
Next Steps Tab If you find
you are unable to meet your savings goal our Next Steps Tab
offers some great options that might help you.
Click
Here to open the Savings Calculator |
