Home • Office Hours • Site Map • Privacy Policy • Contact Us

TEXT: Larger • Smaller

Like us on Facebook Follow us on Twitter Join us on Pinterest Link with us on Linkedin Follow us on Google+
 

Routing Number: 291880411

   

 

This Savings Goal Calculator helps you find out what it will take to help you reach your savings goals. Enter in your savings plan and view graphically your financial results. Click the report button to get more information about your plan, and what you can do to make sure that it is on track.

Definitions

Years to Save—The number of years you have to save.

Savings Goal—The amount you wish to have in savings at the end of this savings plan.

Amount Currently Saved—Total you currently have saved toward this savings goal.

Monthly Savings—The amount you will contribute each month to your investments. This calculator also assumes that you make your contribution at the beginning of each month.

Expected Rate of Return—This is the annually compounded rate of return you expect from your investments. For the purposes of this calculator, taxation is not factored into the results. If you pay taxes on the interest, dividends or capital gains from these investments you may wish to enter your after tax rate of return.

The actual rate of return is largely dependant on the type of investments you select. From January 1970 to December 2007, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.4% per year (source: www.standardandpoors.com). During this period, the highest 12-month return was 61%, and the lowest was -39%. Savings accounts at a bank can pay as little as 1% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that funds and/or investment companies may charge.

Expected Inflation Rate—What you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI), which has a long-term average of 3.1% annually, from 1925 through 2007. The CPI for 2007 was 2.4%, as reported by the Minneapolis Federal Reserve.

Investments & Savings

Calculators

Individual Retirement Accounts (IRA)

Money Market Accounts

RCU Investment & Insurance Team

Certificates

Savings Accounts

Health Savings Accounts (HSA)

Kid's Club

RCU School $ense

US Savings Bonds

Tax Information

Disclosure

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.