Even though $1 million doesn't go as far as it once did, it's significantly more than most Americans are able to save. In fact, when it comes to retirement, 21 percent of Americans have nothing saved at all and a third have less than $5,000, according to Northwestern Mutual's 2018 Planning & Progress Study.
So getting to a million remains a great goal. Are you on track? Here's an easy way to find out.
Personal finance blogger Zach of Four Pillar Freedom created a simple chart that breaks down exactly how many years it will take you to become a millionaire, based on your annual savings and rate of return, assuming you're starting from zero. Check out how long it will take you to reach millionaire status: