Millions of Americans nearing retirement age with no savings

Cumberland, Rhode Island — Maryann O'Connor is juggling two jobs, sometimes working up to 11 hours per day, not what she expected to be doing at age 66.

"I would hope to be retired, playing the piano again, just enjoying my life," O'Connor said.

With no savings or 401(k) — not even enough to cover an emergency — she sold her home and bought a smaller one with two other women.