Should I convert discretionary expenses to savings?

It may surprise you how much you can accumulate for retirement simply by foregoing a few luxuries such as a one-time purchase of a boat or cabin, or trimming back recurring monthly expenses such as eating out, movies, magazine subscriptions, cable tv programming, video rentals, vending machines, etc. Use this calculator to determine how much you could accumulate for retirement by saving instead of spending.
Expenditures and Assumptions
Cost of foregone item (one-time purchase) ($) 
Cost of foregone item (monthly recurring) ($) 
Number of times per month 
Annual inflation on recurring item (%)help
Number of years until retirement 
Before-tax return on savings (%)help
Marginal tax bracket (%)help

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

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