Economy takes a toll on retirement plans

he current economy is taking a heavy toll on those who are nearing retirement age.

This week, MSNBC.com spoke with several Americans who are in their early sixties who have had to cut back on living expenses and put off their retirement plans. The report cites a recent AARP survey that found nearly 60 percent of workers over age 45 were expecting to work longer, with nearly 70 percent saying they plan to spend less once they do retire.