Members Federal Credit Unionwww.mbrcu.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:
Members Federal Credit Union
Members Federal Credit Union was chartered in 1968 by the employees of the City of Aurora. Any employee, retired employee or volunteer of the City or relative of an eligible individual may join. Through the years the membership has been expanded to serve other select employee groups who did not have the benefit of credit union services. These groups now include Tri-State G & T, Rural Electric Cooperatives, Medical Center of Aurora, Aurora Mental Health Center, E-470 Highway Authority and Aurora Housing Authority. Contact the credit union for a full list of eligible groups.6 Abilene StAurora, CO 80011www.mbrcu.com
The Motley Fool's "Saving & Spending Center" provides a crash-course in how to save more money, including budgeting, short-term savings vehicles, saving for college, etc.
FinancialLiteracyMonth.com's Tips & Gadgets | Tools for Success section offers helpful worksheets for income, net worth, debt load, etc. Try these exercises to get one step closer to realizing your long-term financial goals.
About.com's Money In Your 20's section has great articles to get you thinking about ways to save better.
At Credit Unions, You Save More Because credit unions are member-owned and member-operated, they pay-it-forward to members in the form of better interest rates and lower fees (instead of sending profits up to shareholders, like at a bank.) Find yours at www.CULookup.com.
