Cool Million

What might it take to save one million dollars? This financial calculator helps you find out. Enter in your current savings plan and view graphically your financial results for each year until you retire! A complete report tells you when you could hit your Cool Million - and what you can do to reach this milestone on target!

This Financial Calculator requires SUN's Java™ Plug-in. If you see this message you will need to download SUN's Java™ Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing “Install ActiveX Control”.

1. You can also get SUN's Java™ Plug-in here: Get the Java™ Plug-in!
2. For more information about this Plug-in please visit: SUN's Java™ Plug-in
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Definitions

Your age

Your current age in years.

Millionaire target age

The age you want to become a millionaire. For example, to find out what it could take to be a millionaire by age 40, enter 40 here.

Amount currently invested

Total value of all of your current investments. Although you could include your home and personal property in this amount - it is a bit more accurate to include only your savings, retirement accounts and investments.

Savings per month

The amount you will contribute each month to your investments. This calculator assumes that all savings are added to your account at the beginning of the 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 dependent on the type of investments you select. From January 1970 to December 2003, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.7% per year. During this period, the highest 12-month return was 64%, and the lowest was -39%. Savings accounts at a bank 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 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.

Expected Inflation Rate

What you expect for the average long-term inflation rate. This has been calculated by the Consumer Price Index from 1925 to 2002 to be 3.1%.

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Financial Calculators from www.Dinkytown.net
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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 cannot 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.
For more information click here: Financial Calculators from KJE Computer Solutions, LLC