Setting a goal is a crucial step in meeting your savings objectives. Do you have
specific savings goals, or are you merely hoping you’ll have enough when the need
arises?
This calculator is designed to help you determine how much you need to save
each year to meet your savings goals.
Are you able to save the annual amount needed to pursue your targeted savings goal? If not, you may need to reexamine your savings plan and make some adjustments. You can change some of the variables to see how they affect your results.
After-tax rate of return you expect on your investments:
0%
Annual savings required:
$0
Are you satisfied with your savings accumulation? This graph shows the amount you
would have to save each year to meet your goal at various rates of return. But remember
that one of the most important steps you can take to work toward your goals is to
avoid procrastination. Start saving for your goals today.
Impact of Rate of Return on Annual Savings Required
The information provided is not specific investment advice, a guarantee of performance, or a recommendation.
Rates of return will vary over time, particularly for long-term investments. Investments
offering the potential for higher rates of return also involve a higher degree of
risk.
This hypothetical example is used for illustrative purposes only. Actual results will vary.
This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek advice from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.
//<![CDATA[
var Formula = 'k = ((b * Math.pow((1 + (d / 100)), -c)) - a) / ((1 - Math.pow((1 + (d / 100)), -c)) / (d / 100)); e = ((b * Math.pow((1 + 0.04), -c)) - a) / ((1 - Math.pow((1 + 0.04), -c)) / 0.04); f = ((b * Math.pow((1 + 0.06), -c)) - a) / ((1 - Math.pow((1 + 0.06), -c)) / 0.06); g = ((b * Math.pow((1 + 0.08), -c)) - a) / ((1 - Math.pow((1 + 0.08), -c)) / 0.08); h = ((b * Math.pow((1 + 0.10), -c)) - a) / ((1 - Math.pow((1 + 0.10), -c)) / 0.10); i = ((b * Math.pow((1 + 0.12), -c)) - a) / ((1 - Math.pow((1 + 0.12), -c)) / 0.12); A = a; B = b; C = c; D = d; K = k; E = e; F = f; G = g; H = h; I = i; Y = [Math.round(e), Math.round(f), Math.round(g), Math.round(h), Math.round(i)];';
var Validate = function () {
var _r = $Gid('d').value; if (_r 10) { alert('invalid rate entered'); $Gid('d').focus(); return false; } else { return true; }
};
var Questions = [
new Question('The total value of your current savings:', null, 'a', null, null, null, null, 1, {defaultvalue: 25000, slidervalues:[0, 50000, 100000, 150000, 200000, 250000]}),
new Question('The amount you would like to have in the future:', null, 'b', null, null, null, null, 1, {defaultvalue: 950000, slidervalues:[0, 250000, 500000, 750000, 1000000]}),
new Question('The number of years you have to save:', null, 'c', null, null, null, null, 2, {defaultvalue: 30, slidervalues:[0, 10, 20, 30, 40, 50]}),
new Question('The after-tax rate of return you expect on your savings and investments (0% to 10%):', null, 'd', null, null, null, null, 2, {defaultvalue: 6, slidervalues:[0, 2, 4, 6, 8, 10]})
];
var Answers = ['$A', '&C', '%D', '$K'];
var ChartTitle = '';
var ChartType = 'column';
var ChartLabels = ['', 'Amount'];
var labels = ['2%', '4%', '6%', '8%', '10%'];
var ChartData = ['labels', 'Y'];
hAxisTitle = 'Rate of Return';
vAxisFormat = '$#,###';
initCalc();
var dd = new Date();
$Gid('this_year').innerHTML = dd.getFullYear();
//]]>
Case Studies
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