I think I need double the money right now, adjusted for inflation.
So, if I earn 0.03 over inflation for 12 years then (1.03)^12 = 2.022469067498369 times my present value.
1.03^12 = 1.425760886846178945447841 times your PV. If you want need to double your money in 12 years (assuming no further contributions), you need to have a real return of roughly 6% (72/6 = 12).
Yeah, I messed that up. The spreadsheet was right by my phone was not.
3% over inflation for 12 years gets me to where I want to be if I also max out 401K over the next 12 years….then plan to take out 4% a year, leave 3 years or so in cash, and the rest in the S&P 500. We’ll see, so much can happen to change all of this.