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Savings Calculator

The Savings Calculator allows you to figure out how to save for a goal. It demonstrates the advantages of saving in a tax-deferred investment.*

  • Enter ballpark values by clicking on and dragging the sliders left or right. Enter exact numbers by clicking on the number in the box and type your number (no commas).
  • Solve for different variables by clicking on the radio button in front of a label name. You cannot change values for a radio button that has been selected.
  • The results of your calculations show in the box near the bottom of the calculator.
  • Click on tabs for details and for more options.

Help

Savings Calculator Tab

The Savings Calculator Tab gathers pertinent information about your investment options and about your savings goal.

# Of Years
This is the number of years you have to save for your goal. Select this button to discover how many years it will take to save the amount you want based on other variables.
Annual Return
This is the rate of return you need on your investment to reach your goal. Select this button to see what rate of return you'll need.
Opening Balance
This is how much money you have saved to date. Select this button to see how much money you really need to reach your goal.
Monthly Savings
This is how much money you can save each month towards your goal. Select this button to see how much your really need to save each month to attain your savings goal.
Ending Balance
This is your pre-tax balance – your goal. The after-tax accumulated amount is shown at the bottom of this tab. Select this button to see what a realistic goal might be, given the other information you've entered.
Results
The dynamic results box text changes depending upon which of the variables you select.
Tax Rate
Enter you income tax rate.
Compounding
Click on this drop down to choose the compounding interval that matches your savings account.

Growth Graph Tab

The Growth Graph Tab shows how much you will have accumulated, starting now, in a taxable vs. a tax-deferred savings investment.

Tax Rate
Enter you income tax rate.
Graph
The graph shows how much you will have accumulated, starting now, in a taxable vs. a tax-deferred savings investment. Grab the slider at the bottom right of the graph and move it to a specific year for a readout of your savings at that point.

Next Steps Tab

The Next Steps Tab offers some options to help you reach your savings goal.

*Calculators provided are estimation tools and do not necessarily reflect products, terms or rates that Home Federal Bank may offer. Please contact your Home Federal banker to verify results.

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