To determine the total value of your savings, add up your bank accounts, investments, and other liquid funds. Do not include pension plans and home equity.
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.
Experts typically recommend people should have an emergency savings fund to cover 3 to 6 months of living expenses.
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.
Your Results
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Total value of current savings:
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$0
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Number of years you have to save:
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0
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After-tax rate of return you expect on your investments:
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0%
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Annual savings required:
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$0
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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
