Use the compound-interest-calculator to figure out whether you have a good investment or not.
We often get caught up in the "romance" of an investment that looks good but never actually evaluate if it will meet our needs. This compound-interest-calculator will help you evaluate your needs and your investment in four different ways:
1. You can do a basic calculation to see if your lump-sum investment or annual investment is enough to give you the retirement lifestyle you need. This is simply a matter of figuring out how much money you will end up with assuming a certain interest rate over a certain period of time. You'll notice that your money grows a lot faster in the final years compared to the beginning.
2. If you are aiming for a certain dollar amount at some time in the future you can use this compound-interest-calculator to figure out how much money you will need to start with.
You can also figure out how much you will need to invest on a regular basis to achieve your goals.
3. Sometimes, for planning purposes you just need to know how long it will take to have a certain amount of money. The third compound-interest-calculator will help you figure that out.
4. The fourth compound-interest-calculator will help you pick the right investment by illustrating the kind of return you need from an investment to achieve your goals. This way, you won't get caught up in the wrong investment just because someone tells you it is the right thing to do.