Although many Americans who are saving for their golden years still fear going broke in retirement, they are not afraid enough to curtail their current lifestyle, according to Bank of America's biannual Merrill Edge report.

More than half, 55 percent, of respondents say they fear not having enough money in retirement, compared to 37 percent who fear losing their job and 25 percent who fear gaining weight.

The report is based on a national survey of 1,000 people with total household investments of $50,000 to $250,000, excluding their homes and real estate holdings.  About 90 percent of the so-called emerging affluent who were polled have retirement savings, and the average age at which they started saving was 33.