Federal Family FCU Savings Calculator
Napolean Hill wrote his book “Think and Grow Rich” clear back in 1937. He said a “A goal is just a dream with a deadline.” In his book he also suggested that we pay ourselves first. 10% or more every month. We pay the utilities and cable bill every month. Consider paying yourself a set amount the same day.
As an example, if you make $5000 per month then save at least $500 per month. You get the idea.
To test his advice use the following calculator to see how much you’ll accumulate in 180 months (15 years) if you saved $500 per month at a rate of 2.5%. Hit calculate below and see if you’d have enough for the retirement you’re dreaming of. Adjust the numbers to be more realistic for you situation. Good luck and happy saving!
And remember, Napolean Hill also said “DON’T WAIT. THE TIME WILL NEVER BE JUST RIGHT.”
Savings Calculator — calculate future value
This calculator easily answers the question "If I save 'X' amount for 'Y' months what will the value be at the end?"
The user enters the "Periodic Savings Amount" (amount saved or invested every month); the "Number of Months" and the "Annual Interest Rate" or the annual rate of return one expects to earn on their investments.
The calculator quickly creates a savings schedule and a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
The investment term is always expressed in months.
- 60 months = 5 years
- 120 months = 10 years
- 180 months = 15 years
- 240 months = 20 years
- 360 months = 30 years
If you need a more advanced "Savings Calculator" — one that lets the user solve for the starting amount, the amount to invest, the interest rate, the term required to reach a goal or the future value; or if you would like to easily print the schedule; or if you need to pick a different investment frequency, then you may want to try the calculator located here: https:/financial-calculators.com/savings-calculator