Should I use inflation calculators to determine my target retirement income decades from now?

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I used an inflation calculator and determined that an item worth $100k in 2023 dollars will be $209,756.76 in 2053. Is it a good idea to use the same calculator to determine a target salary? For example, if I want a $100k salary in 2023 dollars, I should be targeting $209,756.76 as my retirement income in 2053?

Edit: it’s even worse than I thought guys. According to [https://www.ssa.gov/oact/cola/AWI.html](ssa.gov) the average yearly wage increase from 1951 to 2022 is 4.526% (median is 4.62%). Therefore, using the average percentage, to have the same $100k salary in 2023 you need to be earning $377,288.17 in 2053.

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Posted: 1 year ago
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