deepblackblue
New member
I want my three kids to have (more or less) the same amount of savings when they reach 18. Interest rates will change and they'll receive gifts in the coming years, which means I'll have to accept some differences in the outcome. For the sake of calculation, I will pretend the interest rate is fixed for the next 18 years. I will make an initial deposit and will not be making any monthly deposits after that.
How do I calculate the amount I need to deposit now in order to have the same amount in x, y, and z years? Maybe even include a fixed inflation rate.
How do I calculate the amount I need to deposit now in order to have the same amount in x, y, and z years? Maybe even include a fixed inflation rate.