Even a small difference in the interest you are paid on your savings can add up over time. Use this calculator to see how different savings rates can impact
your savings strategy. Making deposits
at the start of each month, compared to the end of the month, can also make a difference.
Glossary Terms
Starting amount
The starting balance or current amount you have invested or saved. If you haven't started saving yet, set the amount to "$0".
Additional contributions
The amount that you plan on adding to your savings or investment regularly.
Years
The total number of years you are planning to save or invest.
Annual percentage yield (APY)
The annual rate of return for each savings account. The actual rate of return is largely dependant on the type of investments you select. From January 1970 to December 2004, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.5% per year. During this period, the highest 12-month return was 64%, and the lowest was -39%. Savings accounts at a bank pay as little as 1% or less. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment.
*This Web site contains tools and calculators that are hypothetical in nature and used for illustrative purposes only. They do not reflect the actual performance of any Touchstone mutual fund or variable annuity.
