Savings Calculators

Don’t let lack of money be a reason to delay your dreams…

We all have long-term financial goals to work towards, but when dealing with your day to day cost of living, it can be difficult to see the big picture.

Our needs-based calculators offer a clearer view of how much you should be putting aside each month in order to hit your targets, and how an investment strategy can help you get there. Simply choose the goal you’re working towards and answer a few questions to see your results.

Try our savings calculators

Saving for your child’s education

Calculate how much you should be putting aside each month to help ensure the best educational opportunities for your children.

Grow your wealth

Could your money be working harder for you? Try our wealth calculator to find out how much more you could be earning with a personally tailored savings plan.

Plan for retirement

It’s never too early to start putting money aside for retirement. Discover how much you should be putting aside to help ensure that your golden years are comfortable and free from financial worries.

How it works

When you open the calculator that reflects your personal savings goal, you will be asked to answer some basic questions. This is to help us to determine your current financial situation, and how much you can afford to put aside each month.

For example, if you choose the ‘Grow your wealth’ calculator, you will be asked to provide the following information:

Select the currency you wish to use to calculate your savings. At the moment our calculator is only available in USD, but as this is tied to the value of the Bermuda Dollar, the results are effectively the same.

If you have a specific financial goal in mind, how long are you willing to keep putting a significant chunk of your monthly income into it?

For example, you might have a five-year goal of saving $50,000, or a twenty-year plan to save $500,000. Simply enter the length of time that you feel best reflects your realistic goals.

Remember that long-term projections can be more vulnerable to changes in the marketplace, so make sure that you’re checking in on your savings strategy at least once per year to review your progress.

If you are already on your way towards achieving your personal savings goal, tell us how much you have managed to save so far. For example, if your goal is to save $50,000 in five years, perhaps you’ve already managed to save $8,000 towards this. If you’re at the very beginning of your financial journey, just enter 0 in this field.

You’ve probably heard the saying ‘Pay yourself first’. The best way to hit any kind of savings target is to commit to putting the same amount of money aside each month to build your pot. Make a realistic commitment and enter the amount in this field to see how quickly you could reach your goal.

Many of our savings plans are tied to investment strategies that could help you to grow your money faster. However, any investment strategy involves a degree of risk that you could end up earning back less money than you put in.

In this field, you should select one of the following options to indicate your attitude to such risk. The higher the risk level, the greater the potential reward – but you must also accept a greater probability that you could end up losing money.

If you choose to speak to one of our financial advisers after using the calculator, they will ultimately make investment recommendations that reflect your preferences in terms of risk and reward.

Secure - You generally do not want to take any investment risk, since you can accept no investment loss.

Very Cautious - You are generally comfortable with achieving minimal level of potential return on your investment coupled with minimal risk of investment loss.

Cautious - You are generally comfortable with achieving a low level of potential return on your investment coupled with a low level risk of investment loss.

Balanced - You are generally comfortable with achieving a moderate level of potential return on your investment coupled with a moderate risk of investment loss.

Adventurous - You are generally comfortable with achieving a high level of potential return on your investment coupled with high risk of investment loss.

Speculative - You are generally comfortable with maximising your potential return on investment coupled with maximised risk of investment loss.

Once you have entered all of the relevant form fields, simply hit calculate to see your instant results. You will note that you have not been asked to enter any personally identifying information, and the bank will not save or share any of your answers.

These financial calculators are a useful tool to help you estimate how much you need for any goal. However, they are only to be used as a guide. In any financial journey, the outcome is never certain. You must always consider the risks and potential rewards carefully before proceeding with an investment strategy.

Understanding your results

When you hit calculate, you should see a graph that looks something like this:

This graph shows how your projected savings might grow by the end of 2050 if you choose a balanced savings strategy with a moderate investment risk. Above average projections, you could have $130,000. In line with average projections, you could have $109,000. Below average projections, you could have $85,400.

This is a projection of how your savings could grow over time, based on the information you provided on the form. The three lines reflect three possible outcomes, based on how your investments perform.

The line with circles projects the growth of your savings if your investment strategy performs above expectations.

The line with triangles projects the growth of your savings if your investment strategy performs in-line with expectations.

The line with squares projects the growth of your savings if your investment strategy performs below expectations.

You will see that the gap between these lines will be larger if you choose a more high-risk strategy, reflecting the increased potential for reward, but also the increased probability that you might lose money.

This graph shows how your projected savings might grow by the end of 2050 if you choose a high-risk investment strategy. Above average projections, you could have $411,000. In line with average projections, you could have $167,000. Below average projections, you could have $51,000.

If you choose a secure investment risk level, you will only see a single line, as this is a savings-only option with zero investment risk.

This graph shows how your projected savings might grow by the end of 2050 if you choose a secure savings strategy with zero investment risk. For all projected outcomes, you could have $92,500.

Below the graph, you will also find a table indicating your projected balance at the time when you stop contributing to your savings pot. So if you complete the form in January 2021 and indicate that you wish to save for ten years, this table will show you your projected balance in January 2031.

For example, here is a table for a customer who desired to save $500 per month for ten years, with a balanced approach to investing:


Projected investment return	High investment return	Average investment return	Below average investment return
Funds when you stop saving	USD 91,200	USD 75,700	USD 58,400


Projected investment return	Funds when you stop saving
High investment return	USD 91,200
Average investment return	USD 75,700
Below average investment return	USD 58,400

What next?

Please be aware that these calculator tools are purely for educational purposes and do not represent any kind of guarantee. If you are interested in taking your savings goals further, please speak to one of our wealth advisers. Premier customers should reach out to their Premier relationship manager.

You can request a call back by completing an online form, or pop into one of our branches to make an appointment.

Make an appointment

Make an appointment with one of our specialists to help plan for your financial future.

Premier customers

Complete an Investment Planning form and your Relationship Manager will get back to you to arrange a financial review.

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All other customers

Just give us a few details and we'll be in touch to set up your financial review.

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The information on this page does not constitute a solicitation of the sale or recommendation of, or advice on any products. You should not act on such information without seeking professional advice. You should also consider whether any products are appropriate in view of your own circumstances, including not only your risk tolerance, but also your financial situation, investment knowledge and/or experience, investment objectives and preferred investment period.

HSBC Bank Bermuda Limited is not responsible for any loss, damage or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use of or reliance on the information shown on this page. HSBC Bank Bermuda Limited gives no guarantee, representation or warranty as to the accuracy, timeliness or completeness of the information shown.

Investment involves risk, as the value of your investment may move up or down or become valueless. Past performance figures are not indicative of future performance.

HSBC Bank Bermuda Limited, of 37 Front Street, Hamilton Bermuda is licensed to conduct Banking and Investment Business by the Bermuda Monetary Authority

Try our savings calculators

Saving for your child’s education

Grow your wealth

Plan for retirement

How it works

Select currency

How many years would you like to save for?

What’s the total amount you’ve already saved and/or invested already?

How much money could you put aside on a monthly basis?

Investment risk level

Calculating your results

Understanding your results

What next?

Make an appointment

Premier customers

All other customers

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Disclaimer

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