How do I use the Savings Calculator for a quick approximation


If you're regularly setting aside savings dollars but would like an idea of how much your savings would amount to after a set number of years, the Planning tab provides a Savings Calculator. Use it to answer questions such as: "If I invest $10,000 of my savings and receive an annual yield of 10 percent, what will the value be in five years?"

  1. Click the Planning tab.
  2. Choose Planning Tools > Savings Calculator.
  3. In the Savings Information area, enter information about your savings account.
  4. In the Inflation area, enter the adjustments you want Quicken to make for inflation.(Optional)
  5. Press TAB after entering the last value. Quicken calculates and displays the amount. To see the schedule of deposits you must make to achieve your savings goal, click Schedule. The schedule shows the balance of your savings account after each scheduled contribution.

Notes

  • You can calculate how much money you need to start with to reach a savings goal if you know the amounts you plan to save on a regular basis. You can use this calculation to determine whether your planned contributions alone will provide enough money to achieve your savings goal. If the calculator displays a positive amount for the Opening Savings Balance, your regular contributions will not be enough. You need to start with initial savings equal to the amount shown, or you need to increase the amount of your regular contribution.
  • You can calculate how much you need to add to your savings to reach a savings goal (your regular savings contribution) if you know the amount you've saved already, the interest that your savings earn, and a specific rate of inflation.
  • You can calculate how much money you will have after a specific interval of time (how much you can save), if you know the amount you've saved already and the amounts you plan to save on a regular basis.

Search Support:

Search form

Tip: To find out which version of Quicken you are using, open Quicken go to Help menu and select About Quicken.