Available at the App Store and Google Playâ˘

Using the incredible, but simple mathematical concept, of Compound Interest, this App quickly calculates just how much you need to invest each year to reach your financial goalsâbe it $1 Million or even more.

This is how it works:

The first Section:

Click on **Letâs Get Started**

Hereâs the Example:

Start with $0, and add $15,000 every year, earn 10% after-tax, and you will end up with over $1 Million in 21 years. AndâŚif you leave your money invested at 10%, you will be able to receive an annual income of $105,604 without touching your principal.

**Now itâs Your Turn!**

Input your own investment goals and see where they take you.

1) $10,000 a year at 8%

Takes you 28 years to reach $1 Million

And gives you an annual income of $82,373

2) $20,000 a year at 7%

Takes you 22 years

And gives you an annual income of $73,411

3) $5,500 a year at 8%

Gets you $1 Million after 35 years with an annual income of $81,885.

The calculator gives you a quick idea of what it takes to reach your million.

Want a little more flexibility?

**Create a âWhat ifâ Chart**

This chart gives you the ability to go above, beyond, or below $1 Million.

1) Letâs start with $5,000

Add $3,000 a year

Assume a 5% return

In 40 years, you would still finish up with over $415,000

2) Want to customize the years and watch your money grow?

Year 1 Invest $1,000 at 7%, Year-end balance is $1,070

Year 2 Invest $2,000 at 7%, Year-end balance is $3,285

Year 3-15 Invest $3,000 a year at 7%

Year 3 Year end balance is $6,725

Year 4 year-end balance is $10,406

Year 5 year-end balance is $14,344

Year 6: $18,588; Year 7: $23,067; Year 8: $27,892; Year 9: $33,054;

âŚYear 15 $72,568

Add $20,000 in Year 16 and let it ride at 8%–

Year 20 $136,012

Year 40 $633,946

Then, email the spreadsheet to yourself.

**Extra Credit:**

You can use the âWhat ifâ Chart to calculate the effect of a spending (or savings) habit.

Weâll go with the often used $5 a day coffee or $5 a day in savings by bringing your lunch to work habit:

What does this really mean?

Use the calculator.

Example:

If you invested $5 a day instead of spending it on coffee (or lunch out), how much does this habit mean to your future?

A lot.

Weâll assume $5 a day invested, 5 days a week, for 50 weeks a year= $1,250 a year.

$1,250 input into the âWhat ifâ Calculator at 8% would mean a retirement boost of:

$61,779 after 20 years

$349,726 after 40 years.

Hot Dog!!