This Common Retirement Advice Makes No Sense

If you've ever Googled "how much do I need for retirement?" you've probably come across the common advice that you need to replace 80% of your pre-retirement income. Some even call it "the 80% rule."

Well, as I see it, some "rules" are made to be broken.

There's a major problem with this common advice: What you earn today has absolutely nothing to do with the amount of money you'll need in retirement. But fear not, dear reader: There is a tool that can help determine how much you'll need after you retire.

Source: Fool.com