Compound Savings Calculator |
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Consistent investments over a number or 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!
Definitions
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. This calculator assumes that you make your contribution at the beginning of each period. |
Years |
The total number of years you are planning to save or invest. |
Rate of return |
The annual rate of return for this investment or savings account. Historically the major stock indexes have averaged 11% to 12% per year. If you plan on withdrawing your money within five years, you may wish to choose a more conservative rate of return. An ordinary savings account earns 2% to 5%. |
Compounding |
Earnings on your accumulated returns. Please select 'compound monthly', because at PFFCU, interest is calculated monthly. |
Information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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