Retirement calculators can be a valuable first step in calculating retirement needs. You may be saying, "Liz, retirement calculators sound peachy. As easy and straightforward as retirement calculators appear, they have several limitations that could have a major impact on your retirement planning. Why retirement calculators are wrong:Sequence of returns: Calculators use a flat rate of return, typically based on a historical average or a rate the user provides. If your retirement calculator says that you can't retire for 112 years, then you know it's time to make some changes.

Source: Forbes December 21, 2017 13:52 UTC