Really- where did you account for the 185K sitting in his existing retirement account?Quick calculation I do at 10% return till age 65 shows that 185K becomes a nest-egg of $2+ Million.Oh wow, you're right. Perhaps I should stop posting at 5:30am :-)Here's how I got my initial answer in Excel:=PMT(rate, years, pres val, fut val)=PMT(0.1, 25, 185000, 1668750)Obviously there's a problem there since it came out to $37,349 as the necessary annual payment(contribution).Still using that $1,668,750 amount as a goal, the OP could actually retire in 18 years at age 58 by putting in $15,000/year. Here's the formula:=FV(rate, years, payment, pres val)=FV(0.1, 18, 15000, 185000) = $1,712,572Sorry about the mis-information in my earlier post.As Hohum points out, if you are willing to put off retirement until 65, you could actually stop contributions now and get to $2Million+ with what you have now. Of course this is quite risky to do given you cannot guarantee 10% returns.
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