Although half of Americans consider retirement a top priority, 58 percent do not have a formal retirement income and savings plan, according to a report released by Deloitte.

Harris Interactive surveyed nearly 4,500 Americans over 26 on behalf of Deloitte Center for Financial Services and found that although just 30 percent say they feel "very secure" in their retirement prospects, those with a plan were four times more likely to feel secure. What's troubling, though, is that many people are convinced that no matter how much they save, it won't be enough.

"People used to think about retirement as a straight-line plan to a lump sum," Ed Tracy, one of the authors of the report, told AdvisorOne on Friday. "That's changed, particularly since the financial crisis; the way people think about retirement is fundamentally changing."

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