Bear in mind that by living off the interest you are actually spending the amount that you receive to offset the devaluation of your savings. This is to say that while you might still have $2 million in 12 years time, it might only be equivalent to $1 million by current standards and that $50k per year will be more like $25k by today's standards.
That assumes inflation will more than double its current rate of roughly 3% to around 6.5%. That's not impossible, (especially with the way the current administration is spending money) but it would represent a major change of events from the current environment.
