Financial Calculators

Compound interest can have a dramatic effect on the growth of a single deposit. Use our compound interest savings calculator to determine how many years it will take for an existing savings account to reach your stated objective.

It's true that "interest never sleeps." It's also true that it takes determination and discipline to reduce or eliminate high-interest credit card debt. Making additional monthly payments can help accelerate the process and save you significantly in interest payments. Use our credit card repayment calculator to figure out when you can pay off your credit card.

Where does all the money go? Itemize your living expenses to help you budget better and plan for future expenses. Use this simple budget calculator to help develop a budget and plan ahead.

A penny saved is a penny earned, but a penny saved today is a penny earning more. It's important to start saving as soon as possible for events like retirement due to the impact of compounding. If you start saving now you'll need to save considerably less than if you wait a few years. Use our save now vs. save later calculator to see how much extra you'll need to save if you wait.

When you receive a windfall, it may be difficult to determine whether you should invest the funds or put them toward liabilities. Financial theory recommends that if your after-tax return on investments is greater than your after-tax cost of debt you should invest. Use this debt vs. invest calculator to help analyze your situation.

The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount you will eventually pay on a loan. Use our loan payment calculator to determine the payment and see the impact of these variables on a specified loan amount complete with an amortization schedule.

It may make sense to consolidate some of your credit card and other personal debt into a new consolidated loan - perhaps a home-equity loan. Consolidation loans can significantly reduce your required monthly payment because they are generally amortized over 10 or 15 years. Use this debt consolidation calculator to determine how quickly you could get out of debt and how much interest you might save.

How much can vary, but one thing is certain: College costs consistently outpace the rate of inflation, so it's important to start saving early. Interest working for you now in a regular savings program is much better than having interest work against you in the form of education loans. Use our college savings calculator to determine how much to save for college on a regular basis.

Tax deferral can have a big impact on the growth of an investment. A state-sponsored 529 College Savings Plan or Coverdell Education Savings Account (CESA) allows your contributions to grow tax-deferred. (Some states allow contributions to be partially or completely deductible.) You'll also enjoy tax-free distributed income from the plan as long as you use those distributions for qualified education expenses, such as tuition, fees, or room and board at higher education institutions.

There is no limit on contributions to a 529 or CESA, but some states impose limits once the plan assets reach a defined maximum (typically $230,000 to $500,000). Under a special election, you may make contributions per beneficiary in a single year without triggering a federal gift tax by accelerating five years' worth of contributions, based on the applicable gift tax exclusion amount.* Use our college savings calculator to estimate your savings based on your anticipated monthly contributions.

Assets are professionally managed by fund managers selected by the state. Participants can choose from two to almost 30 mutual fund-type investments. The main contributor controls the account regardless of the beneficiary's age.

*This gift is viewed as an accelerated gift over five years. Any other gifts to the same beneficiary by the contributor within five years may result in a federal gift tax liability. If the contributor dies within the five-year period, a prorated portion of the contribution may be included in his or her taxable estate for federal estate tax purposes.

When saving for college, compound interest can be your friend. But the longer you wait to start, the less interest you'll accumulate – and the more you'll have to contribute. Use our college savings calculator to determine when to start saving. Start today, and you can give a small amount of monthly savings the best chance to reach your goal.

It's important to try to answer this question before you take out a loan, since outstanding student loan balances can infringe on your ability to qualify for home, auto and other personal loans. Use our student loan calculator to help gauge the feasibility of student loan repayments based on anticipated future income. The government provides a wealth of information on potential student loan debt based on program, career or location.

Before you establish a contribution amount, you'll want to determine the impact of taking full advantage of your employer's matching contributions. If, for example, your contribution percentage is so high that you reach the current $23,000 limit in the first few months of the year (or $30,500  limit for those 50 years or older), you've probably maximized your contribution but minimized your employer's matching contribution. Use our 401(k) matching calculator to estimate how much to contribute.

*Based on 2024 federal limits.

Retirement planning is an essential step in your overall financial picture. Evaluate your level of preparedness and start making plans to maximize your retirement income with our retirement savings calculator. Reevaluate your preparedness on an ongoing basis. Changes in the economic climate, inflation, achievable returns and your personal situation will affect your plan.

Some retirement plans include the option for qualifying participants to take a loan against their retirement account balance. Some people borrow from their retirement plan to pay off high-interest debt, others to make a major purchase. While the borrowing rates may be favorable (typically 1-2% above the prime rate), you'll need to consider the impact on your future retirement earnings. Use this retirement account loan calculator to make a more informed decision.

Keep in mind that if you elect to suspend ongoing contributions to the plan during the loan repayment period, you risk further impact to your future retirement account balance. This analysis does not take into account any loan initiation fees that might apply. It also does not consider the impact of taking a withdrawal from the plan for financial hardship (purchase of a primary residence, college tuition, funeral expenses, etc.). Contact your plan administrator for details on the loan and withdrawal options available to you.

Increasing the percent of your salary that you save each month in your 401(k) can significantly impact how much you accumulate for retirement. Use this retirement savings calculator to estimate how much more you could accumulate, taking into account any employer match (if applicable).

It may surprise you how much your retirement accumulation can grow simply by saving a small percentage of your salary each month in your 401(k) plan. Use our retirement savings calculator to estimate how much your plan could accumulate.

Retirement may seem far off – and retirement savings a goal you can postpone – but it will be here before you know it. Use our retirement savings calculator to determine how much more you could accumulate by beginning your savings plan today.