Military Education Department
Personal Financial Management (PFM)

This calculator helps you to understand how much money you can accumulate by making monthly contributions to your 401(k) account. Enter the amount you plan to add to your account each month, and the expected interest rate. The calculator will show you the amount that will accumulate in the account over different time spans.

Salary - Enter your current annual salary.
Percentage contribution - Enter a percentage between 1% and 15% that represents the percentage of your income that you wish to withold into your 401(k) account. The witholding may not exceed 15%. Also, you cannot contribute more than $9,500 to your 401(k) account in any year, so adjust this percentage to make sure that the total annual witholding does not exceed $9,500.
Interest Rate - Enter the interest rate you expect to earn. To give you two ideas, current CD rates run between 3.55% and 3.66%, while the stock market has returned an average of 10% or so for many years. For 6%, enter 6 in the entry field.
Click this button to calculate the account value.
Yearly witholding - This is the amount that will be witheld from your salary each year. This number cannot exceed $9,500.
Monthly witholding - This is the yearly witholding divided by 12.
Year	Value
1 year value - This is the total value of your 401(k) account at the end of 1 year.
2 year value - This is the total value of your 401(k) account at the end of 2 years.
3 year value - And so on...
4 year value
5 year value
10 year value
15 year value
20 year value
30 year value
40 year value
Click this button to calculate a new value

It is particularly interesting to note the massive difference between the 30 and 40 year numbers. Getting started at age 25 rather than 35 can have a BIG impact!

Note: These calculations are estimates and are only provided to give you some general guidelines , although we believe the calculations to be correct, we do not guarantee the results. For more information or assistance with your personal finances, Please consult your financial advisor or lending institution before making any final financial decisions.

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Assistance

Counseling

If you have questions or need assistance after graduating from the SDCC Military PFM course contact one of the counselors listed below:

Army - E-mail

Anthony Powell – Ft. Bliss, TX
Wk Ph: 915-568-4453,
DSN: 978-4453
Email: anthony.powell1@us.army.mil

Navy - E-mail

Mike Kempf – Pensacola, FL
Wk Ph: 850-452-3228,
DSN: 922-3228
Email: mikekempf@bellsouth.net

More information

New Links 10-21-2008

Calculators

Glossary

Common terms in financial planning

General Information

SDCC has articulated the Navy PFM course for one college credit. Navy personnel who have graduated from the Navy PFM course qualify. Typically, it can be difficult to apply one credit and meet the requirements of a three credit semester long course at most colleges and universities. With that in mind, we have taken the initiative of developing a two credit online course that will be available upon completion of the Navy PFM course. Sailors who have completed the requirements of both the Navy PFM course and the online PFM course will be given credit for completing the three credit Consumer Studies 110 course offered by San Diego City College and Mesa College and transferable to any Servicemembers Opportunity College (SOC).

For additional information or to see if you qualify contact a PFM counselor.

Military Pay Chart - 2008 3.5% Pay Increase

E-mail the Webmaster
Michael Steffens
Phone: 847-746-2790
Fax: 847-746-2791

Military Education Department Personal Financial Management (PFM)

PFM Contact Information Darrell Himmelspach dhimmels@sdccd.edu Phone: 847-746-2790 Fax: 847-746-2791

Program Managers

How is your financial fitness?

You can find out by taking the quizzes below Financial Fitness Quiz or Financial Fitness Checkup

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Additional Course Information

401(k) Value Calculator