You should take inflation into consideration, so the million in 20 years won't be the same as now.
It’s been my experience that when people are talking about some future sum of money without specifying real or nominal they are referring to a real sum, based on their current day concept of monetary value.
It’s been my experience that when people are talking about some future sum of money without specifying real or nominal they are referring to a real sum, based on their current day concept of monetary value.