UMass Five College Federal Credit Union, Amherst Mass

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Savings Calculator

Consistent investments over a number or years can be an effective strategy to accumulate wealth. Even small additions to your savings add up over time.

This calculator demonstrates how to put this savings strategy to work for you!

This Financial Calculator requires a Browser with Java Support

Definitions
Starting amount	The starting balance or current amount you have invested or saved.
Additional contributions	The amount that you plan on adding to your savings or investment each period. The investment period options include monthly, quarterly and annually.
Years	The total number of years you are planning to save or invest.
Rate of return	The annual rate of return for this investment or savings account. Historically the major stock indexes have averaged 11% to 12% per year. If you plan on withdrawing your money within five years, you may wish to choose a more conservative rate of return.
Compound interest	This is the frequency that your investment's interest or income is added to your account. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest. For stock and mutual fund investments you should choose 'Annual'. For savings accounts and CDs all of the options are valid, although you will need to check with your financial institution to find out how often interest is being compounded on your particular investment.


Information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.



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