Financial Calculators

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. For example, if you want to be able to withdraw $500 during each month of your expected 20-year retirement, this calculator will tell you that if you expect to earn a 10% interest rate you will need to have $51,812.30 saved up by the time you retire. This is often referred to as "Present Value of an Annuity" analysis.

To compute the Present Value of an Annuity, fill in the first three text boxes and then click the "Compute" button.

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:
This is how much you need to have saved:

 

Please note our Main Office in Destin will be closed this Saturday, November 29th due to our relocation of our Destin office to 2000 Ninety-Eight Palms Blvd in Destin. Have you heard? First Florida Bank is now offering an 18 Month CD with a Fixed Rate of 1.30% APY. Click here for more details! Please note effective Monday, August 4, 2014, we will no longer be open until 6:00 pm. Our hours of operation will be Monday to Friday: 8:30 am to 5:00 pm. Additionally, on Saturdays, our drive-thru lanes will still be open 9 am to Noon, but our lobby will no longer be open on Saturdays. Thank you.  Have you heard?  You can now earn rewards with your First Florida Bank credit card.  Visit www.scorecardrewards.com today to register your card!