FAMILY SAVINGS FORECASTER (FSF), by FAMware, assists you with
formulating a savings plan. Enter a single sum and let it grow to a future value,
or, enter a monthly amount and watch your balance accumulate over time. Plan
for retirement. Produces a savings forecast schedule based on the Interest Rate,
Number of Months, Target Balance, and Monthly Amount. Allows you to set up an
annual increase in your monthly savings amount, or, a one-time annual extra
payment. Simple to use, flexible, a useful tool ! Requires: Windows 95,98,ME,NT,or
00.
FAMILY SAVINGS FORECASTER (FSF) Main Features:
Saving A Single Sum
Suppose you have 1000 dollars and you decide to use it to purchase a Certificate
of Deposit (a "CD") that matures in three years, with a yield of 9 percent.
Interest in the CD is paid quarterly. How much will you have at the end of the
three years?
Saving An Amount Each Month
- Simple Monthly Savings Scenario
Suppose you are trying to save for a dirt bike that costs $2400. Based on your
job, and expenses, you think you can save about $140 a month for the bike. Let's
assume you set up an automatic monthly deduction from your pay check into a
money market savings program offered by your employer, that pays 8 percent interest.
How long will it take to save $2400?
- Using A Calculated Monthly Payment
Suppose you want to send your daughter on a trip to Europe in the spring (say
9 months from now). You have to have $4000 saved by then. Let's assume you have
a mutual fund that has been paying about 13% on average. How much will you need
to put into the fund each month to accumulate the $4000 by the end of the 9
months?
More Advanced Features
Suppose you intend to save for retirement, which is 22 years from now. Suppose
you have a portfolio of various stocks, bonds, mutual funds, and money market
funds that has been paying about 15% each year on average, and that you want
to assume this will continue until you retire. Let's suppose that you can afford
to deposit $500 a month from your salary into the retirement fund. Let's also
suppose that you get a 5% raise in July of each year and that would like to
increase your monthly deposit by 5% each July. Last of all, let's suppose that
you have been getting an annual bonus of $1500 each year at Christmas time and
that you plan to put $1000 of this into savings each January. How much will
you have accumulated by retirement?
You will be able to download the product immediately after ordering!
