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Asked 12/28/2007
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Retirement I make 50,000 yr-current
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Answer 1/1 - Submitted 5/26/2009
If I understand right you only need $12,500 per year after Retirements (0.25*50000)
All these values are in today dollars.
I used two functions in Excel. One is the PV function the other is the PMT function.
First at year 15 you need to use the PV function with the Rate=12%, Pmt =-12500, FV =0, Nper =25
This will give you what you need to have saved by the time you retire.
Next you will use the PMT function to calculate what you need to save each year.
Use Rate = 12%, PV=0 FV=Amount at year 15, Nper = 25.
Good luck
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