Older Americans increasingly struggling to save for retirement

For millions of Americans, saving enough for retirement is one of their biggest challenges, especially as recent Wall Street losses have led to shrinking 401(k) plans. 

Senior planning executive Daniel Fitzpatrick's original goal was to retire at 60. He's now 64 and still working. Fitzpatrick currently has an income in the low six-figures.

"The benchmarks move as I get older," Fitzpatrick said. Now, his goal is to retire at 70 and then "look for something part-time afterward."