Edit: A few tweaks
My calculations:
Inputs: PV = -$50K, PMT = -$10K, FV = $1Mil, r = 5%
Result: N = 32.2 years
Interpretation: Where I stand, if I achieve a real after-tax return of 5% annually and save $10,000 in 2012 dollars each year, I will achieve $1 million (in 2012 dollars) after 32...