According to the Employee Benefit Research Institute, the same source I used to determine how many Americans have banked at ...

You’d like to retire at 65 with $1 million saved. You make $70,000 a year, pre-tax and are starting with $0 in savings. Assuming you’re investing and earning a 7% annual rate of return on ...

And if you're wondering how many hit the $2 million mark? Just 1% to 2%. Want to retire with $5 million or more? That puts you in a near-mythical category—only 0.1% of retirees have saved that much.

The long scale defines a billion as a million million whereas the short scale has it at a thousand million. Historically the UK used the long scale but that changed in the last century.