My dad wants to retire in 10 years and he also wants to become a millionaire when he retires. He has 300,000 in hand and he can invest this money at an annual rate of 5%. At the same time, he can save some money at the end of the year for the next ten years and invest those money also at 5% rate. Now, question is how money should he save to achieve his dream?

Imagine Li is now 26 and he wants to become millionaire (1 million) when hes 40. He can save $10,000 at the end of the year for the next 4 years. Thereafter, he can save $60,000 every year for ten years. If he can make 10% on his stock investment every year. Can he realize his dream when he is 40?