Calculate how inflation erodes your purchasing power. See what today's money will be worth in the future.
At a 3% inflation rate, the purchasing power of your money halves in about 24 years. This means if you're planning for retirement 30 years from now, you'll need roughly 2.4 times as much money as you'd need today for the same lifestyle. This is why financial planners always account for inflation when estimating retirement needs — even a "safe" 3% inflation rate drastically changes the numbers over decades.