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Savings, Taxes and Inflation
The value of your savings can be affected by both inflation and taxes. Use this calculator to determine how much your savings will be worth with these two important variables in mind. Click the "View Report" button to get more information and a year-by-year savings schedule.
Definitions
- Amount currently saved
- Total you have saved to date to be included in this analysis.
- Savings per month
- The amount you will contribute each month to your savings. This calculator assumes that you make your contribution at the beginning of each month.
- Years to save
- The number of years you have to save.
- Annual rate of return
- This is the annually compounded rate of return you expect from your investments before taxes. The actual rate of return is largely dependant on the type of investments you select. For example, for the last thirty years the average annual rate of return for domestic equity stocks has been about 10%. Savings accounts at a bank pay as little as 2%.
- Federal tax rate
- Your marginal federal tax rate.
- State tax rate
- Your marginal state tax rate.
- Expected inflation rate
- What you expect for the average long-term inflation rate.
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