Calculate the number of years it would take you to save one million dollars based on your current savings and estimated future monthly deposits.
Information and interactive calculators are made available as self-help tools for independent use. Allianz Life Insurance Company of New York cannot and does not guarantee their accuracy or their applicability to any individual circumstances. Allianz encourages you to seek personalized advice from qualified professionals regarding all personal finance issues. This analysis is based solely on the information provided by you. All examples, if any, are hypothetical and for illustrative purposes and do not represent current or future performance of any specific investment. No guarantees are made as to the accuracy of any projection. All investments carry a degree of risk, and past performance is not a guarantee of future results. Generally, the greater the return, the greater the risk.
There are differing fees, expenses and charges associated with a tax-deferred investment that are not reflected in this hypothetical illustration. Had they been included, results would be lower.
If a withdrawal or distribution is taken, the tax-deferred investment would be reduced by income taxes on any gains, and if taken prior to age 59½, a 10% federal tax penalty may apply. The tax-deferred investment would also be reduced by income taxes on any gains.
It is important to note that lower maximum tax rates on capital gains and dividends would make the investment return for the taxable investment more favorable, thereby reducing the difference in performance between the portfolios shown. Investors should consider their time horizon, risk tolerance and current and anticipated income tax brackets when making investment decisions. These factors, as well as changes in tax law, may have a significant impact on the results of this comparison.