At what age do you plan to retire? According to a recent Gallup poll, the expectation of the average American is that it’s going to be around age 67, a significant increase from the mid 90s, when most people assumed age 60.

It’s no surprise that the shift in expectations resulted from the recent shocks to the economy, including the recession, the financial crisis, the housing bust and stock market volatility. There are also rising concerns about the long-term viability of Social Security and Medicare.

“Here we go again.”

It’s that kind of skepticism that Bankrate.com financial analyst Greg McBride said might undermine the economy as consumers once again grapple with high gas prices -- and the ripple effect that has on household incomes. With salaries generally not keeping pace with rising expenses, people’s spending power is being squeezed, undermining their confidence in an economic turnaround.

Consumer spending is critical to the recovery since it powers 70 percent of economic growth, McBride said. This month’s Bankrate.com Financial Security Index dipped down after posting some gains at the end of last year, illustrating the insecurity that the more than 1,000 Americans polled felt about their debt, net worth, job security, savings and overall financial situation.

A recent study by the investment management company Vanguard Group found that almost one in four 401(k) participants are investing in only target-date funds, a six-fold gain over the past five years. The increase reflects a growing number of new participants: Vanguard said that of those employees entering a retirement program for the first time, 64 percent opted to invest in a single target-date fund.

Target-date funds are a type of mutual fund that allows investors to set a date for the life of the fund. As retirement approaches, the fund shifts its emphasis from more aggressive investments to more conservative ones based on the target date.

Many companies are choosing target-date funds as a default investment option, and automatically enroll eligible employees into them if an individual doesn’t voice a preference. In general, Vanguard said that the move to target-date funds illustrates how there is growing reliance on “professionally managed accounts” in which a fund manager or third-party advisor makes portfolio allocation and rebalancing decisions on investors’ behalf.

Self employed or running a small business? Use the upcoming tax deadline as an opportunity to also evaluate your retirement program

I worked for a large company for more than a decade and during that time was religious about contributing to my 401(k). So when I struck out on my own and started my business, it was important to me to set up a system that continued those regular retirement contributions.

It was one of those times when I realized how much I had taken the big-company infrastructure for granted. As a business owner, there are several options available, and each one offers different features from either a tax perspective or an administrative one. My goal was to first find the best plan for my immediate situation, and understand the nuances of any tax or investment issues, and then come up with a course of action for retirement planning that could grow as my company grows,

With the tax deadline just a month and a half away, it’s time to re-assess retirement plans so that you can take advantage of any contributions and other benefits your program may offer, whether you’re self-employed or work for a large company.

For small business owners, that assessment may also mean investigating whether the plan you have still fits your business needs. Consider this: A recent Fidelity survey of more than 600 small business owners who already offer SEP-IRA, SIMPLE IRA or Self-Employed 401(k) plans found a significant lack of understanding among owners of the plans they currently have.

What are your plans for this year's tax refund?

According to a recent poll by TD Ameritrade, of the more than half of Americans who expect to receive a refund on their taxes this year, 63 percent plan to save or invest at least part of that money.

In addition to saving or investing, many said they would pay down debt, and some said the refund would go towards paying for necessities such as food or utility bills. Only 14 percent of respondents planned to splurge on luxuries, according to the survey of more than 1,000 adults, TD Ameritrade Holding Corp. said.

What do you plan to do with your refund? Tell us in the comments section below.

If you work for a company with a pension plan that uses Fidelity Investments for its record keeping, you may be able to access some new online tools for understanding and managing retirement.

Fidelity, which provides pension plan services to 108 companies, announced a new online video library that helps pension plan participants better understand their benefits, and how to incorporate them into an overall retirement plan. The videos explain such topics as the difference between a 401(k) plan and a pension, and how pension benefits grow. Located in the Pension & Tools Learning section of Fidelity's NetBenefits site, the videos also cover vesting and retirement eligibility so that people can learn how to integrate their pension into a retirement income strategy.

Economic indicators may have shown recent signs of improvement, but Americans are still feeling less financially secure than a year ago, according to a survey by Bankrate.com.

The telephone survey of 1,000 people included questions pertaining to five "core tenets" of financial security: job security, savings, debt, net worth and one's overall financial situation, said Bankrate.com's senior financial analyst, Greg McBride.

While Bankrate.com's Financial Security Index showed incremental improvement since December, and even since last summer when the run-up in gas prices prompted a sharp cutback in spending, consumers are "still not where we need to be," McBride said. "They're still on the negative side of the ledger."

When we talk about retirement, usually the conversation centers around how to save and how to invest that savings. Let’s add a third dimension to that discussion: Once you retire, how do you turn that savings into income and make the transition from retirement savings to retirement spending?

It’s a question that many Americans, and even those nearing retirement, may be unprepared to answer. According to a recent survey published by Charles Schwab, one-third of baby boomers who say they are just five years away from retirement have not even calculated how much income they will need when the time comes. Part of the problem, Schwab says, is that individuals haven’t figured out what their essential living expenses will be. More than 76 million baby boomers, or nearly a quarter of all Americans, are approaching retirement age in the next two decades.

Boston.com readers who participated in last week’s holiday shopping survey indicated that they are going to keep a tight hold on budgets and spend cautiously in the upcoming weeks.

Almost 37 percent of respondents said they will spend up to $500 on holiday shopping this year, while another 29 percent said their budget limit is $1,000. About 18 percent said they will spend as much as $1,500.

For the vast majority, the budget is either a decrease from last year, or the same amount. Of those surveyed, 52.7 percent said their budget is staying the same, and another 30 percent said it was dropping. Why? The top reason cited by readers was, “I’ve focused on tightening my budget and don’t feel I need to spend as much.” The other reasons most commonly cited included lack of confidence in the economy and unemployment in the family.

In two weeks, the annual shopping standoff begins: The holiday season will kick off with the traditional Black Friday specials, and consumers will speak with their wallets about their confidence in their personal financial outlooks, and the US economy.

The National Retail Federation and the International Council of Shopping Centers are both forecasting modest year-over-year gains in holiday sales. Economists at the NRF said they expect a 2.8 percent increase in retail industry sales in the months of November and December. Their forecast includes sales at discount, department, grocery and specialty stores, and exclude sales from outlets such as automotive dealers, gas stations and restaurants.

The ICSC said its metric of industry performance, shopping-center sales, will increase by 2.2 percent during the two-month holiday period.