Wells Fargo/Gallup: Almost Half of Investors Worried About Outliving Their Savings

Many studies have come out showing that Americans aren't adequately saving for their retirement.

And a new Wells Fargo/Gallup survey of investors shows that they agree. Almost half, 46 percent, are very or somewhat worried about outliving their savings, including 50 percent of non-retirees and 36 percent of retirees.

Social Security represents a major cause for concern.

"Clearly Social Security plays a key role in thinking about retirement income, and concerns about the government's ability to address the system's financial problems exist for both retirees and non-retirees," Karen Wimbish, director of retail retirement at Wells Fargo, said in a statement.

A total of 58 percent of the respondents don't think Washington will act in time to preserve Social Security for future retirees. Only 38 percent of investors aged 18 to 49 expect to receive most or all of their benefits, compared with 73 percent among those 65 or older and 71 percent of those aged 50 to 64.

To be sure, 69 percent say they are confident they will have enough money to maintain their desired lifestyle during retirement.

CNBC offers five ways to enhance your financial situation for retirement.

1. "Capture savings opportunities." If you have children, you generally are free of financial responsibility for them at some point in your 50s. Take advantage of that extra cash to save for retirement.

2. "Aim to max out your 401k, IRA and other tax-advantaged accounts." Workers 50 and up can contribute extra to their 401k accounts in an IRA. So do it if you can.

3. "Hang on to your job just a little longer." The longer you put off retirement, the more wealth you can accumulate by the time you get there.

4. "Strategize Social Security." The rule of thumb is that the longer you wait to collect on Social Security, the better, because that allows time for your benefits to build up. But if you need money soon, you may not have a choice.

5. "Curtail expenses." It always bears repeating that the less you spend, the more you can save.

Related Stories:

• Gallup Poll: Retirement Savings Are America's Nightmare
• Americans Lack Retirement Savings, Aren't Saving Enough: Survey