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Looking just at the math aspect of things, in order to get the present value of that future amount of money you calculated, you'd divide that figure by (1 + the inflation rate)^ number of years

So $1,000,000 30 years from now assuming an annualized 3% inflation rate would be:

$1,000,000/(1.03)^30 = $411,987.00

I always dislike doing that calculation. :)

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