The bottom line is Americans are living longer in retirement, saving less or not at all. They live beyond their means - and haven't adequately prepared for how their estate will be distributed.

While this group is still a few years away from retirement, this plus the fact that Americans are living longer requires these funds to go out further on the yield curve.

For many people, fairly minor adjustments are all it will take.

The government will not have the funds to step in and take care of everyone.

More Americans are focused on saving for retirement, but are they putting away enough? It's not grounded in a plan and they're saving blindly. They really don't know if they're saving enough.

Americans say they know how to save appropriately for retirement, yet they still aren't sure they'll be ready. This overconfidence may well stem from a belief that Americans' escalating home values are their retirement savings. However, relying on real estate alone isn't the smartest way to save.