Why You Shouldn't Rely on a Retirement Calculator

We all know we need to plan for retirement, and it's not enough to simply throw some money in your 401(k) and hope for the best. Still, actually sitting down and planning for how much it'll take to enjoy your golden years tends to trip people up.

How much will you need for retirement? It's a simple question without a simple answer, and if you're not sure, you're not alone -- 81% of Americans say they don't know how much they should be saving for retirement. Some financial experts will toss out big numbers, saying you need at least $500,000, $1 million, or even $2 million to comfortably retire, but the truth is, it varies widely based on dozens of factors.

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Source: Fool.com