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Whether you are saving for a major purchase, like a vacation or a car, a down
payment on a new home, or for college or retirement, our Savings Calculator can
help you determine whether you are on track to meet your financial goal.
To use the calculator, just follow these easy steps:
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On the left side of the Calculator, click on the Item you want to calculate. A
red checkmark will indicate your selection.
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On the right side of the Calculator, enter amounts for the remaining Items.
Either use your mouse to slide the diamond along the line, or click on the box
on the right side and type in the amount (do not use commas).
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To enter how often interest is paid on your savings, go to "Compounding" and
select a time period from the drop-down box.
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If you want to see the impact of taxes on your savings, enter your tax bracket
using the tax rate slider.
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Click on the "Next Steps" tab for ways to improve your chances of reaching your
savings goal.
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Click on the "Growth Graph" tab to see a visual depiction of how your savings
will grow, and to see a comparison of tax-deferred vs. taxable savings
accounts. Tax-deferred savings accounts are available for retirement and
college savings.
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