|
|
|
| Savings
Calculator
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 assume 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 |
This is
the frequency that 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. |
|
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.
|
| |
|
|
|
 |
©2002
Windward Community FCU
217 D Street, MCBH, Kailua, HI 96734
808-254-3566 FAX 808-254-2243 |
|
|
| ©2002
Web Architects: Exposure
International, LLC |
|
