Login Menu About Calculators Savings Goal Calculator What will it take to reach your financial goal? This calculator helps you find out. Enter in your savings plan and view your financial results graphically. Click the report button to get more information about your plan, and what you can do to help ensure that it is on track. Financial Calculators from Dinkytown.net Financial Calculators ©1998-2021 KJE Computer Solutions, Inc. Definitions Savings goal The amount you wish to have in savings at the end of this savings plan. Target years to save The number of years you have to save. Amount currently saved Total you currently have saved toward this savings goal. Monthly savings The amount you will contribute each month to your savings. This calculator also assumes that you make your contribution at the beginning of each month. Expected rate of return This is the annually compounded rate of return you expect from your savings or investment. The actual rate of return is largely dependent on the types of investments you select. The Standard & Poor's 500® (S&P 500®) for the 10 years ending December 31st 2020, had an annual compounded rate of return of 13.8%, including reinvestment of dividends. From January 1, 1971 to December 31st 2020, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 10.8% (source: www.spglobal.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a financial institution may pay as little as 0.25% or less but carry significantly lower risk of loss of principal balances. It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally 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. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that investment funds and/or investment companies may charge. Expected annual inflation rate This is what you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI). From 1925 through 2020 the CPI has a long-term average of 2.9% annually. Over the last 40 years the highest CPI recorded was 13.5% in 1980. For 2020, the last full year available, the CPI was 1.2% annually as reported by the U.S. Bureau of Labor Statistics. Whatever your savings goals, Washington Trust offers a range of savings account options. Explore options Get Started with a Trusted Advisor For more information about our products and services, contact our Customer Solutions Center. Contact us today ‹ Back to all calculators 800-226-5877 24/7 Banking 800-475-2265 Customer Solutions Center Tambien disponible en Español Ver detalles Subscribe Stay up-to-date with our latest insights. Enter your email Submit Popular Links Meet Our Team Checking Accounts Mortgages Loan Rates Commercial Banking Investor Relations Tools & Resources Branches & Locations Customer Solutions Center Security Center Lost Debit Card Español Contact Us Routing Number: 011500858 Download Our Apps Follow Us LinkedIn Twitter Facebook Instagram YouTube Blog Equal Housing Lender Member FDIC NMLS#414726 Important Information about FDIC Insurance Coverage NMLS Registered Lenders Accessibility Disclosures Español Sitemap © Washington Trust Routing Number: 011500858