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calculation help
Old 08-01-2006, 02:28 PM   #1
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calculation help

I've searched high and low for a calculator to give me the an idea of how much I need to save for early retirement. I'm kind of working backwards from the typical calculators. Specifically I would like to know how much to save monthly/ yearly for 1 million in 13 years w/ 8% return, starting out with $150k. Does anyone know where to find a calculator or how to setup an excel sheet to play around with? What would this calculation be called - present value of ....? I can try it myself w/ excel if I knew what it is called.
Thanks
Robin
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Re: calculation help
Old 08-01-2006, 02:37 PM   #2
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Re: calculation help

I think this does what you need:

http://www.ipers.org/sub/calcs/Savings.html
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Re: calculation help
Old 08-01-2006, 02:44 PM   #3
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Re: calculation help

perfect. thank you
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Re: calculation help
Old 08-01-2006, 04:27 PM   #4
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Re: calculation help

Quote:
Originally Posted by astromeria
I think this does what you need:

http://www.ipers.org/sub/calcs/Savings.html
Just curious, your avatar looks familiar.* Is it a picture of the inside dome of the Pantheon in Rome?* I loved visiting that building a few years ago.* I still remember the amazing accoustics from the choir that was singing in there.
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Re: calculation help
Old 08-01-2006, 10:47 PM   #5
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Re: calculation help

Quote:
Originally Posted by retire@40
Just curious, your avatar looks familiar. Is it a picture of the inside dome of the Pantheon in Rome? I loved visiting that building a few years ago. I still remember the amazing accoustics from the choir that was singing in there.
as a certain rodent might say, ding! ding! ding! we have a winner! I've been hoping someone would recognize it or ask Yep, it's the sunlight pouring down the hole in the Pantheon roof. It was astonishing despite the crowd present at the time.
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Re: calculation help
Old 08-02-2006, 01:58 PM   #6
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Re: calculation help

The family of functions in excel that does what you want is pv, pmt, fv, ipmt, nper.
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Re: calculation help
Old 08-02-2006, 03:37 PM   #7
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Re: calculation help

Quote:
Originally Posted by astromeria
as a certain rodent might say,
Lagomorph.*

http://en.wikipedia.org/wiki/Lagomorpha

My name is Ha, and I'll be your pedant...
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Re: calculation help
Old 08-02-2006, 04:35 PM   #8
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Re: calculation help

beg pardon, guvnah.

from answers.com:

The noun Lagomorpha has one meaning:

Meaning #1: rabbits; hares; pikas; formerly considered the suborder Duplicidentata of the order Rodentia
Synonym: order Lagomorpha
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