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.
The amount you wish to have in savings at the end of this savings plan.
Amount currently saved
Total you currently have saved toward this savings goal.
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 2% 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 volitility. 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.
The information provided by this calculator is for illustrative purposes only. Accuracy of the result is not guaranteed, and we are not responsible for any errors, omissions, or misrepresentations. The results obtained from this calculator are hypothetical and may not be applicable to your individual situation. This calculator cannot pre-qualify you for any loan program. In order to qualify for any loan program, an application must be submitted for approval. Additional information, such as credit scores, asset and debt information, property value and other information, will be required, and may not be taken into consideration by this calculator. Interest rates and pricing are only examples, are subject to change at any time and without notice, and may not be available at the time of loan application. Additional fees, such as association dues, may not be included in calculations. The information provided does not constitute investment advice. You should not make investment decisions based on results obtained from this calculator. Investment strategies should be reviewed periodically as financial circumstances change. The results of financial calculators may provide a rough approximation of future financial performance, but may not reflect the actual growth of your own investments. We are not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by this calculator. You should consult a financial professional prior to relying on the results of this calculator.