How Will My Money Grow Over Time?

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When we are deciding how to allocate our earnings, it’s hard to figure out how much we should sacrifice now for the promise of more money later. If you have a big savings goal that requires you to invest in order to get there (such as retirement or buying a home), you may wonder how much you need to put away every month in order to reach your target.

The calculator below will help you make that projection. Enter what you’re saving up for, 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

How Will My Money Grow Over Time?

What's your goal?

How much do you already have set aside for ?

What's your marginal tax bracket?

How much can you save each year for your goal?

Will you be able to increase your contribution over the years? If so, by what percent each year?

How many years until your goal?

What interest rate will this earn?

Typical return on a savings account: 1.5%
Inflation 3%
Historic investment return: 8%

Growth Over Time

Years
Amount Accrued in 0 Years
$0.00
Remember: Because of inflation, the buying power of this amount decreases over time. Historically, inflation has increased at an average of 3% each year. If your rate of return is less than the rate of inflation, you are losing money.
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If you want to rejigger your priorities based on this calculator’s recommendations, head into the Budgeting Tool now to reallocate your monthly savings or retirement contributions.