Finance Center Federal Credit Unionwww.fcfcu.com
Both taxes and inflation can influence the amount of money you are able to save. Once taxes are calculated, the future value of your money is discounted by the inflation rate.
Months Invested
Enter the total number of months you plan to save. If you want to see the impact of inflation & taxes one and half years from now, enter 18 months.
Amount Invested
Enter the amount of money you currently have invested or have already saved.
Future Monthly Contributions:
Enter the amount of money you will save each month moving forward.
Annual Savings Rate
Enter the average annual savings rate (or interest rate) for the account in which your college savings are kept.
Federal Tax Rate
Enter your federal tax rate. If you are using a tax free savings instrument, then enter 0%.
State Tax Rate
Enter your state tax rate. If you are using a tax free savings instrument for the state in which you reside, then enter 0%.
Inflation Rate
Enter the expected inflation rate for the period in question. The historical average is about 3%.
In 0 months, your investment will be worth the following:
Finance Center Federal Credit Union
Serving individuals and their family members who live, work, worship, attend school or regularly conduct business in Marion County. See website for details.7101 East 56th StreetP.O. Box 26501Indianapolis, IN 46226-0501(317) 916-7700www.fcfcu.com
