An Easy Way to Save for Any Reason

 

You may be thinking of a vacation, a new car, an addition to your house, your retirement or just the peace of mind that comes with having a larger balance in your savings account.  There is no easier way to save than with an automatic savings plan.

How much do you want to save?

The choice is up to you.  Here are a couple of charts showing how much you have to save monthly to reach your goals.

Saving for short-term goals – vacation, larger car down payment, or just accumulating more.

Amount you want to save

Monthly savings needed over

6 months

12 months

18 months

24 months

30 months

36 months

$2,500

$414

$205

$136

$101

$80

$66

$5,000

$828

$411

$272

$202

$161

$133

$7,500

$1,242

$616

$408

$304

$241

$199

$10,000

$1,656

$822

$544

$405

$321

$266

$25,000

$4,141

$2,055

$1,360

$1,012

$804

$665

(Assumes an earning rate of 3%.)

This is a hypothetical example and is not representative of any specific security.  Actual results will vary.

 

Saving for longer-term goals – college for a child, retirement, or just accumulating more.

Amount you want to save

Monthly savings needed over

5 years

10 years

15 years

20 years

25 years

30 years

$50,000

$735

$322

$187

$122

$84

$60

$100,000

$1,470

$643

$374

$243

$168

$120

$250,000

$3,676

$1,610

$935

$608

$420

$300

$500,000

$7,352

$3,220

$1,871

$1,216

$840

$601

$1,000,000

$14,705

$6,440

$3,741

$2,433

$1,679

$1,202

(Assumes an earnings rate of 5%.)

This is a hypothetical example and is not representative of any specific security.  Actual results will vary.