America's middle-class workers have plenty to worry about -- but for many, the biggest anxiety is what happens when they are workers no longer. Many will reach retirement only to find they have saved too little to live comfortably. Some will choose to postpone their retirement; others may not have that option.
The rapid and near-total disappearance of defined-benefit pensions has left many U.S. workers unprepared. Almost one-third of all workers have no savings at all. Those who do save don't save much. Median household retirement savings for people aged 55 to 64 in 2013 amounted to $14,500. Consider that the average 65-year-old in the U.S. can expect to live almost 20 more years.