The calculations are simple: While Americans may think they need more, they‌ can retire without having millions in their bank account.

Brett Arends, of MarketWatch, reported a vast difference between how much money the average American in 2023 thinks they “need” to retire and what the experts say is a safer number. While financial planners argued between $2 million and $4 million or more, Americans surveyed believed they needed about $1.27 million to retire with a comfortable lifestyle.

John Poston