hi i was thinking about putting 3k into roth ira each year, is there a
calculator that would find out how much the roth ira account will be
after 30 years with the assumed 10% return and adding 3k into the acc
each year..... TIA
sandy
sandy wrote:
> hi i was thinking about putting 3k into roth ira each year, is there a
> calculator that would find out how much the roth ira account will be
> after 30 years with the assumed 10% return and adding 3k into the acc
> each year..... TIA
>
> sandy
Excel.
thanks i'm not familiar with excel. how should i set it up? TIA
On 8 Feb 2006 11:21:30 -0800, "PeterL" <> wrote:
>
>sandy wrote:
>> hi i was thinking about putting 3k into roth ira each year, is there a
>> calculator that would find out how much the roth ira account will be
>> after 30 years with the assumed 10% return and adding 3k into the acc
>> each year..... TIA
>>
>> sandy
>
>Excel.
If you start with $3,000 for 2005 and start saving $250/month for 2006 with
an extra payment to make up for January, you will have $624,634.18 if the
interest is compounded annualy. This is accurate enough. Now all you need to
do is start and then get that 10% each year.
"sandy" <> wrote in message
news:
> hi i was thinking about putting 3k into roth ira each year, is there a
> calculator that would find out how much the roth ira account will be
> after 30 years with the assumed 10% return and adding 3k into the acc
> each year..... TIA
>
> sandy
"sandy" <> wrote
> hi i was thinking about putting 3k into roth ira each year, is there a
> calculator that would find out how much the roth ira account will be
> after 30 years with the assumed 10% return and adding 3k into the acc
> each year..... TIA
. On the right, scroll
down to "Saving." Then click on "What will my current savings grow to?"
Putting in your numbers yields about $542k (vs. an initial investment of
$90k). Double check this.
I hope you're aware the annual limit for the Roth IRA for 2005-2007 is
$4000/year if you're under 50. For 50 and over, it's higher.
sandy wrote:
> thanks i'm not familiar with excel. how should i set it up? TIA
>
>
Instead of telling you the solution to your question, let me direct you
to the Help section of Excel. Enter "Financial Formula" as the search
parameter. Somewhere you'll find "examples of commonly used formulas".
There you'll find "how to calculate compound growth rate."
Have fun.
> On 8 Feb 2006 11:21:30 -0800, "PeterL" <> wrote:
>
> >
> >sandy wrote:
> >> hi i was thinking about putting 3k into roth ira each year, is there a
> >> calculator that would find out how much the roth ira account will be
> >> after 30 years with the assumed 10% return and adding 3k into the acc
> >> each year..... TIA
> >>
> >> sandy
> >
> >Excel.
I think this may be what you are looking for.