Should I convert discretionary expenses to savings?
It may surprise you how much you can accumulate for retirement simply by foregoing a few luxuries such as a one-time purchase of a boat or cabin, or trimming back recurring monthly expenses such as eating out, movies, magazine subscriptions, cable tv programming, video rentals, vending machines, etc. Use this calculator to determine how much you could accumulate for retirement by saving instead of spending.
The information provided here is to assist you in planning for your future. Any analysis is a result of the information you have provided. Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary therefore, the information should be relied upon when coordinated with individual professional advice.
Any rate of return entered into the interactive calculator to project future values should be a reasonable average return for the period. Rates of return will vary over time, and generally the higher the rate of return the higher the degree of risk.
Any rate of return entered into the interactive calculator to project future values should be a reasonable average return for the period. Rates of return will vary over time, and generally the higher the rate of return the higher the degree of risk.
