Here's How Many People Actually Save $1 Million for Retirement

Here's How Many People Actually Save $1 Million for Retirement

Image source: Getty Images That big round number always gets thrown around for retirement: $1 million. Supposedly, that's what it takes to retire comfortably and never worry about money again.But for most people, that number is more fantasy than fact.The Federal Reserve's latest data shows only about 2.5% of Americans have $1 million or more saved for retirement. Among retirees, it's just 3.2%. So if your account balance looks far smaller, you'r…