How to save for short-term goals
Here's what it takes to save for 3 common expenses.
- By Fidelity Viewpoints
- – 07/28/2021
1 National Retail Federation 2020 consumer spending survey
2 Bankrate Summer Vacation Survey 2019
3 HomeAdvisor 2020 True Cost Report
These hypothetical examples illustrate the amount of monthly contribution required to be made at the beginning of every month to achieve the short-term savings goal. A 7% annual rate of return is used in the illustration. Income taxes, investment taxes and inflation are not included in the illustration. This is only for illustrative purpose and does not reflect actual investment outcome. Investing in this manner does not ensure a profit or guarantee against loss in declining markets. Investing involves risk including the risk of loss.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917