I'd like to know what my retirement's purchasing power is. I think the best way to do that is to adjust for inflation in reverse, maybe?
I know to calculate your future salary with inflation you can do
Salary * (1+inflation%)^number of years. Meaning if my current salary is $100,000, and inflation is 3%, in ten years my salary should be $134,391 if I've kept up with inflation.
But I want to know something like, if I had $1 million 10 years from now, and inflation was 3%, what would that be like having today?
Can I do
Retirement * (1 - inflation%) ^ number of years? That calculates to $737,424. But is that right?