Step 2: Don't Let Your Money Disappear

The value of your savings account can be seriously reduced when figuring in both inflation and taxes.

The illustration shown here reveals savings after taxes and inflation to be $24,542. You must compute your overall contribution to see how bad this really is.

A loss will happen in many cases if the savings rate is too low.

Try a few examples of your own. Some states do not have a tax rate on savings, but most do. Input the federal rate that applies to you.

Make sure you figure your total contribution in order to compute your gain or loss.

The value of your savings can be affected by both inflation and taxes. Use this calculator to determine how much your savings will be worth with these two important variables in mind. Click the "View Report" button to get more information and a year-by-year savings schedule.

So you have a savings account and have often wondered how long it would last if you made a series of monthly, quarterly, or annual withdrawals. You no longer have to wonder, the illustration shows very nicely how you can figure your own situation.

Study the illustration and read the definitions.

This calculator is designed to help you determine how much of your savings remains after a series of withdrawals. Enter your starting amount, how much to withdraw and how often and we will calculate your expected final balance.

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