🧮 Quit Rich Compound Interest Calculator
🧠 This calculation is based off of your age. To start, how old are you?
🧐 This field requires an age.
💰 Are you planning on starting with savings? If so how much is your starting amount?
Please Enter a Valid Value
An initial investment can greatly influence the ending result. If you do not have an initial investment we greatly recommend that after you do your first calculation that you write down the end result and then do a 2nd calculation with an initial investment to compare the difference. Even as little as $1,000 can make a very large difference with long term investments.
💵 How much will you put into your retirement plans each month?
🤑 You must enter a monthly contribution (deposit) amount in order for this calculator to function.
The rule of thumb is that one should save at LEAST 15% of their income to contribute to their investments. Because this is one of the most troubling areas of investing we have created a Habit Calculator to help you trade funding harmful habits for contribution funds. For example: Smoking a pack of cigarettes, a day can take more than $1.9 million away from an investor. Click here (coming soon) to check out that calculator.
📅 How long do you plan to invest?
🤓 This tells the calculator how long you will be compounding interest.
As of now in the United States the current retirement age with full SSI benefits is 67 years old.
🔮 What is the annual return that you are hoping for?
😬 You must select an annual rate of return for compound interest to be calculated.
This is the yearly compound interest rate. The S&P 500 has a 30-year return of about 12% so we advise that you keep this number lower. For our Habit Calculator and our Compound Interest Calculator we have set this number to default at 8% for modesty.
This Compound Interest Calculator and its coding are owned by Quit Rich LLC and cannot be used, borrowed, or copied to any format other than QuitRich.com without permission and consent.