FAQ
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How does the calculator estimate returns?
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Summary: The calculator estimates future returns by using the inputs provided (starting amount, contributions, time, rate of return) and assumes consistent growth.
Details:
- Assumes regular contributions and a constant rate of return.
- Does not factor in taxes, fees, or market fluctuations.
- Results show potential balance and breakdown of contributions and interest.
What assumptions are made?
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Summary: Assumes a consistent rate of return without accounting for external variables.
Details:
- Ignores market fluctuations, taxes, and fees.
- Contributions are assumed to be regular and consistent.
- No withdrawals are accounted for during the investment period.
Can it help with retirement planning?
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Summary: Useful for a rough estimate, but not a comprehensive retirement planning tool.
Details:
- Provides a rough growth estimate for retirement savings.
- Does not consider factors like taxes, inflation, or changes in spending needs.
- Consult a financial advisor for personalized retirement planning.
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