If you can work longer, for many people that will be a more palatable solution than saving a crazy percentage of your salary," Webb said.
Working longer also allows you to wait to claim Social Security retirement benefits.
Typically, the longer you wait to claim benefits, the bigger your monthly payments will be, up until age 70. Those who claim benefits at age 70 get a whopping 76 percent more per month than they would if they began drawing benefits at age 62, according to the book "Falling Short: The Coming Retirement Crisis and What to Do About It."
Damian Sylvia
Managing Partner
Retirement Income Solutions
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