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If you use credit for major purchases, such as buying a car or taking a vacation, the interest you pay undercuts your wealth and saps your buying power. On the other hand, a disciplined program of saving and investing for big-ticket items can make it possible for you to pay cash, saving you money and building wealth.
Where you invest the money you put away for short-term goals depends on your time frame and risk tolerance. As a general rule, the shorter the time until you need the money, the more conservative your choice of investments should be.
*Investments offering the potential for higher rates of return
also involve a higher degree of risk to principal. Also, please be aware
that high rates of return are generally not sustainable for long periods of
time.
Calculators are designed to be informational and educational tools only, and when used alone, do not constitute investment advice. We strongly recommend that you seek the advice of a financial services professional before making any type of investment. We also encourage you to review your investment strategy periodically as your financial circumstances change. These models are provided as a rough approximation of hypothetical financial performance (or income provided). The results presented by these calculators are hypothetical and may not reflect the actual growth of your own investments. Symetra Financial and its affiliates are not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools.
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