How many more years must I work to have $1 Million at retirement?

Inflation expected
Investment returns
Salary growth rate
Savings % of salary at start
Increase in savings rate
Salary now
Portfolio value now
Savings Objective (today's $)

Input
Variables
2.5%
8.0%
4.0%
10.0%
0.5%
$
30,000
$
$ 1,000,000

* Before changing any va

'$44,407. This will beco

* Before changing any va

original savings objecti

Results
Years to Retirement
42
Portfolio at that age (nominal $)
$ 2,870,037
Salary at that age (nominal $)
$
155,784
Salary now equals
5.4%

Future Value of
1,000,000.00

1,000,000
1,025,000
1,050,625
1,076,891
1,103,813
1,131,408
1,159,693
1,188,686
1,218,403
1,248,863
1,280,085
1,312,087
1,344,889
1,378,511
1,412,974
1,448,298
1,484,506
1,521,618
1,559,659
1,598,650
1,638,616
1,679,582
1,721,571

* Now make those two in

until the result shows it t
of portfolio's value

Savings
Portfolio at
BOY End of Year

$
3,000
3,276
3,569
3,881
4,211
4,562
4,935
5,330
5,748
6,191
6,661
7,158
7,685
8,242
8,832
9,455
10,114
10,811
11,547
12,325
13,147
14,014

3,240
7,037
11,455
16,563
22,436
29,159
36,821
45,522
55,372
66,488
79,001
93,053
108,797
126,402
146,052
167,948
192,307
219,367
249,387
282,649
319,460
360,152

To compare the effect of

just play with the 'savings
For example to use the de
you delay savings for 10 y

(after tax)

Salary

30,000
31,200
32,448
33,746
35,096
36,500
37,960
39,478
41,057
42,699
44,407
46,184
48,031
49,952
51,950
54,028
56,189
58,437
60,774
63,205
65,734
68,363
71,098

Savings # Year to
Rate % Retirement

10.0%
10.5%
11.0%
11.5%
12.0%
12.5%
13.0%
13.5%
14.0%
14.5%
15.0%
15.5%
16.0%
16.5%
17.0%
17.5%
18.0%
18.5%
19.0%
19.5%
20.0%
20.5%
21.0%

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22

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1,764,611
1,808,726
1,853,944
1,900,293
1,947,800
1,996,495
2,046,407
2,097,568
2,150,007
2,203,757
2,258,851
2,315,322
2,373,205
2,432,535
2,493,349
2,555,682
2,619,574
2,685,064
2,752,190
2,820,995
2,891,520
2,963,808
3,037,903
3,113,851
3,191,697
3,271,490
3,353,277
3,437,109
3,523,036
3,611,112
3,701,390
3,793,925
3,888,773
3,985,992
4,085,642
4,187,783
4,292,478
4,399,790
4,509,784
4,622,529
4,738,092
4,856,545
4,977,958
5,102,407
5,229,967

14,930
15,897
16,918
17,994
19,130
20,328
21,591
22,922
24,325
25,804
27,363
29,005
30,734
32,555
34,473
36,492
38,618
40,855
43,209
45,687
48,293
51,035
53,919
56,951
60,141
63,494
67,019
70,725
74,620
78,714
83,015
87,535
92,283
97,272
102,511
108,015
113,794
119,863
126,236
132,926
139,950
147,323
155,062
163,184
171,708

405,089
454,665
509,310
569,488
635,708
708,519
788,518
876,355
972,735
1,078,423
1,194,249
1,321,113
1,459,995
1,611,954
1,778,142
1,959,805
2,158,296
2,375,083
2,611,755
2,870,037
3,151,797
3,459,058
3,794,014
4,159,043
4,556,719
4,989,830
5,461,397
5,974,692
6,533,257
7,140,928
7,801,859
8,520,545
9,301,855
10,151,057
11,073,854
12,076,418
13,165,429
14,348,115
15,632,298
17,026,442
18,539,704
20,181,988
21,964,014
23,897,374
25,994,608

73,941
76,899
79,975
83,174
86,501
89,961
93,560
97,302
101,194
105,242
109,451
113,829
118,383
123,118
128,043
133,164
138,491
144,031
149,792
155,784
162,015
168,495
175,235
182,245
189,534
197,116
205,000
213,201
221,729
230,598
239,822
249,414
259,391
269,767
280,557
291,780
303,451
315,589
328,212
341,341
354,995
369,194
383,962
399,321
415,293

21.5%
22.0%
22.5%
23.0%
23.5%
24.0%
24.5%
25.0%
25.5%
26.0%
26.5%
27.0%
27.5%
28.0%
28.5%
29.0%
29.5%
30.0%
30.5%
31.0%
31.5%
32.0%
32.5%
33.0%
33.5%
34.0%
34.5%
35.0%
35.5%
36.0%
36.5%
37.0%
37.5%
38.0%
38.5%
39.0%
39.5%
40.0%
40.5%
41.0%
41.5%
42.0%
42.5%
43.0%
43.5%

23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67

To compare the effect of delaying the start of saving, you must do more than
just play with the 'savings %' until the 'Years to Retirement' equal the shorter time.
For example to use the default inputs but see what 'savings %' ( now 10%) is necessary when
you delay savings for 10 years (leaving only 32), you must:
* Before changing any variables, look down at the PLA salary in 10 years =
'$44,407. This will become the input for your 'Salary Now' variable.
* Before changing any variables, look down at the PLA value of the $1,000,000
original savings objective. This 1,280,082 will become the new savings objective.
* Now make those two input changes. Then play with the variable for 'Savings %'
until the result shows it takes 32 years. Saving the same $$ will now require 27% of wages.

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