So the assumption is that your STASH may need to sustain you for 60-70 years.
I also plan to continue working through out my life. I just want to NOT HAVE to work if I have an injury occurs, want to travel, etc.
Im wondering how to calculate this?
GOAL: RETIRE BY 40 (31 NOW) 9 YEARS TO ACCOMPLISH!!! BOLD I KNOW
YEARS OF "RETIREMENT": 60
YEARLY EXPENSES: $22,000$
TOTAL AMOUNT: $1,320,000
I am trying to reverse engineer using compounding for the $1,320,000 to see how much I need to input for the subsequent years until 40.
Present Value Year 1:5,000
Interest Rate: 7%
# of Periods: 9
Future Value: 1,320,000
Year 1 $5000
Year 2 ?
Year 3 ?
Year 4 ?
Year 5 ?
Year 6 ?
Year 7 ?
Year 8 ?
Year 9 $1,320,000
Any suggestions?