Calculators

Savings Goal

What will it take to help reach your savings goals? 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.

 

YOU_MADE_IT

Saving RQD_SAVE_MONTH SAVING_FREQUENCY_LOWER may total AMT_TARGET in YEARS_TO_SAVE years.

**GRAPH**

YOU_MADE_IT Based on the information you supplied your current savings plan may be able to reach savings goal of AMT_TARGET in FRACTION_YEARS_TO_TARGET years. Adjusted for INFLATION_RATE inflation, AMT_TARGET would be worth NPV_TARGET after YEARS_TO_SAVE years in today's dollars.

CHANGE_MSG

Your Input Values

Input Values
Savings goal AMT_TARGET
Years to save YEARS_TO_SAVE
Amount currently saved AMT_CURRENT
SAVING_FREQUENCY savings AMT_SAVE_MONTH
Expected rate of return ROR_INVEST
Inflation rate INFLATION_RATE

Savings Results by Year

**REPEATING GROUP**



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Definitions

Savings goal
The amount you wish to have in savings at the end of this savings plan.
Years to save
The number of years you have to save.
Amount currently saved
Total you currently have saved toward this savings goal.
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 dependent on the type of investments you select. From January 1970 to December 2008, the average annual compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 9.7% (source: www.standardandpoors.com). During this period, the highest 12-month return was 61%, from June 1982 through June 1983. The lowest 12-month return was -39%, which happened twice, once from September 1973 to September 1974 and again from November 2007 to November 2008. Savings accounts at a bank may pay as little as 1% or less but carry significantly lower risk of loss of principal balances.

It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally 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. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that funds and/or investment companies may charge.

Expected Inflation Rate
What you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI), which has a long-term average of 3.1% annually, from 1925 through 2008. The CPI for 2008 was 4.0%, as reported by the Minneapolis Federal Reserve.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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