3 Pieces of Dated Retirement Advice You Should Ignore

No matter what lifestyle you plan in retirement, preparing for it is never simple. Those who don't put off planning altogether often look for simplified rules to follow instead. But these rules can give you a false sense of security about how prepared you are, causing you to come up short in your later years. Here are three of these rules you shouldn't rely upon -- and how to come up with an accurate retirement plan instead.

For decades, $1 million was the benchmark for retirement savings, but most of today's workers will find that isn't enough. Back when this rule was widely touted, many workers could also rely on a pension from their jobs, and they weren't living as long. So their money didn't have to last for as many years. 

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Source Fool.com