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Lack of savings, living longer means many will be working during retirement
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The goal to retire and stay that way is becoming increasingly more and more difficult to achieve for some Americans. - photo by Matthew Jelalian
Even the best planning and financial discipline may not be enough to secure financial independence by the time a person wants to retire.

According to Slate, one of the reasons this uncertainty exists is that retirement funds simply aren't large enough to last through one's retirement years.

According to Fidelity Investments, the average 401(k) account belonging to someone at least 55 years old is worth $165,000," wrote Slate. The Federal Reserve says the median amount held in all retirement accounts individual or workplace where the head of the household is at least 35 but hasnt yet reached the official retirement age of 65 is $59,000.

These savings statistics do not bode well for Americans who expect to make the money stretch for the remainder of their lives.

For an upper-middle-class couple age 65 today, theres a 43 percent chance that one or both will reach at least age 95, according to the latest data from the Society of Actuaries, reported Time.

Combining the lack of proper savings and the increased life expectancy it is becoming increasingly common that retirees must work at least part time in order to attain their desired standard of living.

But not everyone finds working while retirement to be a negative thing.

Nearly 3 out of 4 pre-retirees over the age of 50 say their ideal retirement will include working often in new, more flexible and fulfilling ways, according to a new survey report, wrote the Society for Human Resource Management. With 47 percent of current retirees already having worked or planning to work during their retirement years, it will become increasingly common for people to seek work during this stage of their lives.

Bloomberg Business reported in a poll that says that 86 percent of people believe that there is a retirement crisis in the U.S. However, that doesnt mean that people see themselves as part of the crisis.

At the same time, the results from a report released last week by the National Institute on Retirement Security show fewer Americans are worried they won't have enough money to be self-sufficient in old age, reported Bloomberg.

According to Bloomberg, the numbers of people worried about financial security has fallen from 85 percent in 2013 to 74 percent. Although the majority of people are still worrying, it is a positive sign that the worry is subsiding.

Forbes recommended that those planning for retirement should consider planning for worst-case scenarios, creating a financial buffer to retirement plans and taking action quickly when plans need to change.

However, savings isnt the only place where Americans need to improve their retirement plans.

Everybodys big focus is that we have to save more, said John C. Bogle, founder and former chief executive of Vanguard as reported by The New York Times. A greater part of the problem is the failure of investors to earn their fair share of market returns.