Savings Goals

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

With your current SAVING_FREQUENCY_LOWER savings of AMT_SAVE_MONTH, you may be able to reach savings goal of AMT_TARGET in FRACTION_YEARS_TO_TARGET years. Saving RQD_SAVE_MONTH SAVING_FREQUENCY_LOWER may total AMT_TARGET in YEARS_TO_SAVE years. However, in YEARS_TO_SAVE years, AMT_TARGET in today's dollars would be worth NPV_TARGET when adjusted for INFLATION_RATE inflation. **GRAPH** CHANGE_MSG
Result Summary
Savings goalAMT_TARGET
Years to saveYEARS_TO_SAVE
Amount currently savedAMT_CURRENT
Current savingsAMT_SAVE_MONTH SAVING_FREQUENCY
Expected rate of returnROR_INVEST
Inflation rate INFLATION_RATE
Total after YEARS_TO_SAVE yearsENDING_AMOUNT
Savings required to meet goal in YEARS_TO_SAVE yearsRQD_SAVE_MONTH SAVING_FREQUENCY_LOWER

Savings Results by Year

**REPEATING GROUP**

Savings Goals 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 savings (after taxes).

The actual rate of return is largely dependent on the types of investments you select. The S&P 500® for the 10 years ending Dec. 31st, 2013 had an annual compounded rate of return of 7.3%, including reinvestment of dividends. From January 1970 through the end of 2013, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 10.6% (source: www.standardandpoors.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a bank may pay as little as 0.25% 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 annual inflation rate
This is 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). From 1925 through 2013 the CPI has a long-term average of 3.0% annually. Over the last 40 years highest CPI recorded was 13.5% in 1980. For 2013, the last full year available, the CPI was 1.7% annually as reported by the Minneapolis Federal Reserve.


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