Last year it was 70. Now 80 is the “new 65”.

Middle class America is expecting to push out full retirement even later due to financial worries. We’re also expecting to have to save more. Yet almost half of us haven’t worked out how long we can last on what we’ve got already.

According to Wells Fargo’s new survey:

• Almost half said that they expected to continue in the same job or a similar job of similar responsibility (expecting the same income level, we presume).
• More than half said they need to significantly cut back on spending now to save for retirement.