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McHenry Savings Bank is proud to offer several custom selected financial tools to help our customers with their financial needs.

Please note that these tools are provided as an estimate only. They are not binding or to be used as a replacement for true financial advisement. McHenry Savings Bank welcomes you to make an appointment to discuss any financial questions. Please call us at 815-385-3000.

 

Retirement Savings Calculator
Use this calculator to compute how much you would need to have invested in order to withdraw a specified amount each month over the course of a specified period of time. You also have the option of factoring in the effects of inflation.

Enter your current age (#):
Enter the age you plan to retire at (#):
Enter the amount you would like to withdraw each month ($):
Enter the Annual Interest Rate you expect to earn (%):
Enter the number of years you would like to make the monthly withdrawals (#):
Enter the expected average annual rate of inflation (%):
Enter the amount of your current retirement savings ($):
This is how much you need to have saved not accounting for inflation:
This is how much you need to save each month (not accounting for inflation):
This is how much you need to have saved accounting for inflation:
This is how much you need to save each month (accounting for inflation):

 

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