Based on your existing savings of $70,000 it appears that you will need to save $59,647 indexed at 0.0% annually in order to become a millionaire by age 85 .However, a million today will not be worth the same in 12 years. One million adjusted for inflation of 3.0% will be $1,425,761 in 12 years. You will need to save $88,007 annually (indexed at 0.0%) to reach that goal by age 85. <div id="chart1Container">Chart will load here</div> <script type="text/javascript"> <!-- var myChart1 = new FusionCharts( "MSColumn2D", "myChart1Id", "100%", "100%", "0", "1" ); myChart1.setXMLData("<chart showValues='0' showFCMenuItem='0' decimals='0' formatNumberScale='0' caption='Annual Savings Growth' xAxisName='Age' numberPrefix='$' bgColor='FFFFFF' showBorder='1' borderColor='FFFFFF' borderThickness='1' canvasBgColor='ffffff' showAlternateHGridColor='0' plotGradientColor='' numberSuffix='' thousandSeparator=',' decimalSeparator='.'><categories><category label='73' /><category label='' /><category label='75' /><category label='' /><category label='77' /><category label='' /><category label='79' /><category label='' /><category label='81' /><category label='' /><category label='83' /><category label='' /></categories><dataset seriesName=''><set value='134055.0' /><set value='200287.0' /><set value='268771.0' /><set value='339584.0' /><set value='412804.0' /><set value='488514.0' /><set value='566798.0' /><set value='647744.0' /><set value='731442.0' /><set value='817985.0' /><set value='907471.0' /><set value='1000000.0' /></dataset></chart>"); // --> </script> <table class='pure-table pure-table-bordered' role='grid'><tr><th scope="col">Age</th><th scope="col">Beginning Balance</th><th scope="col">Savings @ 0.0%</th><th scope="col">Earnings</th><th scope="col">Taxes @ 15.0%</th><th scope="col">Ending Balance</th></tr><tr><td role="rowheader" scope="row">73</td><td>$70,000</td><td>$59,647</td><td>$5,186</td><td>$778</td><td>$134,055</td></tr><tr><td role="rowheader" scope="row">74</td><td>134,055</td><td>59,647</td><td>7,748</td><td>1,162</td><td>200,287</td></tr><tr><td role="rowheader" scope="row">75</td><td>200,287</td><td>59,647</td><td>10,397</td><td>1,560</td><td>268,771</td></tr><tr><td role="rowheader" scope="row">76</td><td>268,771</td><td>59,647</td><td>13,137</td><td>1,971</td><td>339,584</td></tr><tr><td role="rowheader" scope="row">77</td><td>339,584</td><td>59,647</td><td>15,969</td><td>2,395</td><td>412,804</td></tr><tr><td role="rowheader" scope="row">78</td><td>412,804</td><td>59,647</td><td>18,898</td><td>2,835</td><td>488,514</td></tr><tr><td role="rowheader" scope="row">79</td><td>488,514</td><td>59,647</td><td>21,926</td><td>3,289</td><td>566,798</td></tr><tr><td role="rowheader" scope="row">80</td><td>566,798</td><td>59,647</td><td>25,058</td><td>3,759</td><td>647,744</td></tr><tr><td role="rowheader" scope="row">81</td><td>647,744</td><td>59,647</td><td>28,296</td><td>4,244</td><td>731,442</td></tr><tr><td role="rowheader" scope="row">82</td><td>731,442</td><td>59,647</td><td>31,644</td><td>4,747</td><td>817,985</td></tr><tr><td role="rowheader" scope="row">83</td><td>817,985</td><td>59,647</td><td>35,105</td><td>5,266</td><td>907,471</td></tr><tr><td role="rowheader" scope="row">84</td><td>907,471</td><td>59,647</td><td>38,685</td><td>5,803</td><td>1,000,000</td></tr></table>