calculation help

[pinkmali]

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

 

[astromeria]

I think this does what you need:

http://www.ipers.org/sub/calcs/Savings.html

 

[pinkmali]

perfect. thank you

 

[retire@40]

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.

 

[astromeria]

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.

 

[bongo2]

The family of functions in excel that does what you want is pv, pmt, fv, ipmt, nper.

 

[haha]

as a certain rodent might say,

Lagomorph. 

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

My name is Ha, and I'll be your pedant...

 

[astromeria]

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