It’s important not to underestimate how beneficial can investment calculators be — these innovative online tools have the power to assess how much your investments will grow if you keep investing at the rate you do at present. Knowing these estimates can not only affect your current financial behavior but also open a whole other direction for your economic doings in the future.

Which factors can influence your investments? We are talking about variables such as your interest rate and time, initial deposit, contribution rate, rate of return, taxes, and inflation. If you possess this data, an investment calculator is a simple way to estimate your money increase in time.

Speaking of money increase, trading is one of the popular types of investments these days. It’s also a thrilling way to have a good time by multiplying money.

If you are eager to earn quick cash (or lose it), trading can be a way to go. For starters, put aside 5% of your wallet and enjoy. If trading is paving its way to become your passion, delve into trading platforms  (more information here https://brokerschart.fr/plateforme-de-trading). This website guides you through public trading platforms, exhaustively describing their pros and cons, as well as the way they work.

For example, traders who use MT4 (explore details by clicking on this link https://brokerschart.fr/plateforme-de-trading/metatrader-4), will find an exhaustive guide through all the information needed on this platform.

Otherwise, if MT5 is a trading platform of your choice (check it out here             https://brokerschart.fr/plateforme-de-trading/metatrader-5), tackle it with this link. You will discover quickly that both software are free, yet they differ in various ways. For instance, the former offers four limit orders, while the latter provides six.

Now, let’s explore the French’s favorite investment calculators. First, look at these 3 top picks to get familiar with how they operate.

Forbes Advisor’s investment calculator

Before we get down to many factors that the professional online Forbes Advisor’s investments calculator will ask you to list down, let’s tackle one essential question every investor should ask. What to invest in? Experts advise investing in a diversified portfolio of many investments instead of focusing on one particular; for instance, exchange-traded funds (ETFs) and index funds — the lowest cost investments that, however, offer the same, if not better, returns than funds run by professional investors.

Go to the Forbes investment calculator and update its defaults with the data that matches your investment goals and financial situation. Among decisions to be made:

• investments goal, i.e., your goal for the total value of your investment or investments;
• years to accumulate;
• amount of initial investment;
• rate of return on investment;
• periodic contribution;
• contribution frequency;
• compound interest.

In the end, check the box if you want to make additional contributions at the beginning of each period.

But that’s not all! Forbes Advisor’s investment calculator will also suggest what to change if your plan doesn’t seem to follow up with your investment goal.

Investor.gov

This investment calculator will require users to fill in blanks, it will ask similar questions, and the investor will end up with a similar result as in the Forbes calculator mentioned above. Still, this one is visually more approachable for everyone, a standard characteristic of “.gov” websites.

In step one, you will give your Initial Investment, i.e., the amount of money you have available to invest from the start. Step two is titled “Contribute.” Here, you are invited to share plans regarding your monthly contribution, referring to an amount you plan to add to the principal every month. Mind that it can also be a negative number if you plan to withdraw a certain amount every month. Also, for how many years do you plan to save?

After that, there comes a question about the interest rate. It comprises two parts: estimated interest rate (annually) and interest rate variance range. The latter is described as a range of interest rates, above and below the rate you set above, that you want to see results for.

Finally, the “Compound It” section refers to a compound frequency, i.e., times per year that interest will be compounded. You can choose from: annually, semiannually, quarterly, monthly, and daily.

But it’s not all so serious! You can also have fun testing your knowledge of investing terms, strategies, and concepts on the page using an Investing Quiz that comes out each month.

Mint Life

Mind Life is a way to go if you are looking for a neat and fancy investment calculator that is also intuitive. Investors, with multiple sources of income, may occasionally find it challenging to manage their finances and investments.

Mint Life investment calculator makes monitoring your investment income easy. Enter a few key figures, including a starting amount, years to accumulate, expected rate of return, contribution amount, and taxes, and discover how effortless it is to create investment goals, forecast investment growth, and search for opportunities to boost the size of your portfolio.

A mint-pistachio-colored pie chart comes with the investment breakdown to help you see things clearly as never before.