Estimating How Your Investments Will Grow Over Time
When you’re deciding how to allocate your earnings, it can be hard to figure out how much to sacrifice now for the promise of more money later. Meeting your savings goals requires you to invest now so you’ll have the money later for retirement, to buy a home, or to send a child to college. How do you determine what to save now to get what you want later?
Use the calculator below to estimate how much you should save now. Just enter how much money you’ll need later, how much you already have, how much you’ll contribute each year, when you’ll need the money, and what you believe the return on your investment will be. The results will help guide you with your saving plan.
Remember that your savings will grow based on the return on your investments. Check your investments regularly to make sure you’re on track to meeting your goals.