What will it take to reach your investment goal? Use this investment goal calculator to determine how much your investment might grow before taxes, after taxes and after taxes and inflation. It will also provide suggestions on what to change if your plan doesn’t look like it will meet your investment goal.

Investment goal Your goal for the total value of your investment or investments.

Years to accumulate The number of years you have to save.

Amount of initial investment Total amount you will initially invest or have currently have invested toward your investment goal.

Periodic contribution The amount you will contribute each period to your investment. You are also able to select whether you wish to have your contribution happen at the beginning or the end of the period.

Contribution frequency The frequency you will make regular contributions to this investment.

Compound interest Interest on an investment’s interest, plus previous interest. The more frequently this occurs, the sooner your accumulated interest will generate additional interest. You should check with your financial institution to find out how often interest is being compounded on your particular investment.

Make deposits at beginning of the period Check this box to have all additional contributions happen at the beginning of each period. Uncheck this box for the end of the period. Making contributions at the beginning of each period allows your money to begin earning a return immediately increasing your return.

Rate of return on investment This is the rate of return you expect from your investments. You are also able to select the frequency that earnings are compounded in your investment account. The actual rate of return is largely dependent on the types of investments you select. The Standard & Poor’s 500® (S&P 500®) for the 10 years ending December 31, 2016, had an annual compounded rate of return of 6.6%, including reinvestment of dividends. From January 1, 1970, to December 31, 2016, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 10.3% (source: www.standardandpoors.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). The S&P 500 is an unmanaged index of 500 widely held securities. Savings accounts at a financial institution may pay as little as 0.25% or less but carry significantly lower risk of loss of principal balances.

It is important to remember that these scenarios are hypothetical and that future rates of return can’t be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees which would reduce an investor’s return. Dividends are not guaranteed and will fluctuate.

Expected inflation rate This is what you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI). From 1925 through 2016 the CPI has a long-term average of 2.9% annually. Over the last 40 years highest CPI recorded was 13.5% in 1980. For 2016, the last full year available, the CPI was 1.1% annually as reported by the Minneapolis Federal Reserve.

Federal marginal tax rate Your Federal marginal tax rate. Use the table below to assist you in estimating your federal tax rate.

*Caution: Do not use these tax rate schedules to figure 2016 taxes. Use only to figure 2017 estimates. Source: Rev. Proc. 2016-55

State marginal tax rate Your marginal state tax rate. If your state taxes are deductible on your Federal return, we will take this into account when calculating your combined state and Federal marginal tax rate.

Deductible state taxes Check here if your state taxes are deductible on your Federal return. Generally speaking if you itemize your deductions on Schedule A of your Federal return you should check this box.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Calculators are provided by an independent third party and are being made available to you as self-help tools for your independent use and are not intended to provide investment advice or be representative of actual results. We do not guarantee their applicability or accuracy in regards to your individual circumstances. The determinations made by these calculators should not be construed as guarantees or projections. Moreover, the reasonableness of certain information may change over time because of changes in tax law, investment trends and your personal circumstances. The information contained here is based on current law and has been obtained from sources believed to be reliable, but we do not guarantee its accuracy. Investment results can vary considerably depending on the type of securities involved, general market conditions and other factors. It is important that you periodically review and update your plans. Raymond James does not provide tax or legal advice. You should contact your tax or legal advisor concerning your particular situation. All investments carry a degree of risk, and past performance is not a guarantee of future results.