It's a situation that many Americans arefinding themselves in today—hitting themilestone of their 50th birthday withoutsufficient retirement savings. According toa recent article in magazine, 57%of workers aged 45 to 54 have saved lessthan $50,000. The average baby boomer isonly able to replace 60% of their currentincome in retirement, even with help fromSocial Security and pensions. While thereare many reasons contributing to these statistics(eg, college costs, aging parents,medical insurance, etc), what do you do ifyou find yourself a part of this statistic?s top recommendation is somethingwe've all heard before: You and yoursignificant other should max out anyemployer-sponsored retirement plans available.At age 50, you and your spouse havelikely reached your peak earning years andare able to feed a higher income percentageinto a retirement plan. Even the governmentis aware of this crunch time—workers aged 50 and older can put moremoney into individual retirement accounts.also recommends tightening yourpurse strings when it comes to recklessspending and downsizing on your homesooner than later if it is a part of your plan.Tapping into equity now may free up significantsums to invest.