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.

If you're doing retirement planning you realize it's a long-term venture. If you have some extra money, now is the time to buy something for 20 years form now.

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.

Americans know they need to save for a rainy day, but with the growing need to put away for retirement and unforeseen emergencies, they need a helping hand. Keep the Change is an easy way for consumers to save with everyday purchases. Bank of America is enabling Americans to save for a rainy day one penny at a time.

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.