You'll often hear that if you manage to amass a $1 million nest egg in time for retirement, you're basically set for life. After all, it's $1 million. What could go wrong?

Now let's be clear. Having $1 million in your retirement accounts could do a lot of great things for your senior years. It could make it possible for you to live comfortably, especially in conjunction with a nice monthly benefit from Social Security. But even that amount might not actually be enough -- particularly in these three circumstances.

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Source Fool.com