The Math on a Million
I'm relentless when it comes to making a money plan. Anytime I have a major goal, I write out a plan with steps I'll follow until it's achieved. That helps to make it real to me. This year I've been focusing on building wealth for me down the line. These calculators from 360 Degrees of Financial Literacy will help break down some financial goals you may be working to achieve. use them below to map your million dollar plan.
Net Worth: Your net worth is the value of all of your assets (house, cars, savings, etc) minus the amount of your liabilities (debt).
How Much Home Can I Afford: Use this calculator to determine what type of income is required for the mortgage your desire.
Rent vs Buy: Figuring out this equation takes more than just affording the mortgage payment. This calculator will help you figure out if the fees, taxes and mortgage payments are all within your financial range so you can make a wise decision between these two options.
Emergency Savings: Making sure you have the right amount saved in your emergency fund is important should an unforeseen event occur. Use this calculator to determine how long it will take you to save a certain amount to cover your current monthly costs based on your current salary.
What will it take to save a Million Dollars: Want to know how much you would need to retire with a million dollars? This calculator helps you to determine this based on your current savings plan and your desired age of retirement.
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