Over half of mass affluent Americans (55 percent) say they fear running out of money in retirement and they are willing to cut back on their current lifestyles to aid their futures, according to the Merrill Edge Spring 2014 report.

To save for retirement, two out of every three of adults – 67 percent -- with $50,000 to $250,000 in investable household assets said they are willing to reduce entertainment in general, while 70 percent said they are amenable to cutting back on eating out and 72 percent said they would reduce vacations.

The survey also found that the most common factors competing with saving regularly for retirement were unexpected costs for baby boomers (37 percent) and paying off large debts for millennials (38 percent).

Forty-five percent of parents told Merrill they have cut back on vacations to pay for existing child care needs, but only 29 percent would consider making the same sacrifice for a better retirement.

About the same percentages said they have reduced eating out to help their children now yet wouldn’t give up this pleasure at all or in part to aid them in their post-working years.

The survey was conducted from April 8 through April 22 of 1,000 of the mass affluent.