Savings and Retirement Calculators

Savings Calculator | Retirement Planner

Savings Calculator -Definitions

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Consistent investments over a number of years can be an effective strategy to accumulate wealth. Even small additions to your savings add up over time. This calculator demonstrates how to put this savings strategy to work for you.

TermDefinition
Starting amount The starting balance, or current amount you have invested or saved.
Additional contributions The amount that you plan on adding to your savings or investment each period. The investment period options include monthly, quarterly and annually.
Years The total number of years you are planning to save or invest.
Rate of return The estimated annual rate of return or annual percentage yield (APY) for this investment or savings account. If you plan on withdrawing your money within five years, you may wish to choose a more conservative rate of return. Past performance is no guarantee of future performance.
Compounding This is the frequency with which your investment's interest or income is added to your account. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest. For stock and mutual fund investments you should choose 'Annual'. For savings accounts and CDs all of the options are valid, although you will need to check with your financial institution to find out how often interest is being compounded on your particular investment.


These calculators are made available to you as self-help tools for your independent use. We do not guarantee their accuracy or applicability to your circumstances. These tools are not intended to provide investment, legal, tax, or accounting advice. All examples are hypothetical and for illustrative purposes only. You may wish to consult your financial institution or financial advisor for additional information and advice. The calculations in this Report are based on typical conventional fixed rate financing for the term of the loan selected. Actual results may vary depending on the specific product type and availability of loan terms. Additional fees may apply. All loans would be subject to lender approval and credit terms may vary. All user input is private and secure. We do not collect any of the personal information that you provide, nor do we save any of the Reports. All calculations are made on your own computer.