Just over half of Americans over the age of 65 are earning under $30,000 a year, and it shows how stark the retirement crisis is

• A new report from Senator Bernie Sanders signals a looming retirement crisis for Americans.
• Many older Americans are financially vulnerable, with over half living on incomes of $30,000 or less a year.
• Potential solutions might include enhancing Social Security checks and setting up automatic retirement accounts.

There's a retirement crisis looming for many Americans — and some are already living on scant incomes. Retirement becoming a luxury for Americans hoping to get a reprieve in their later years is something a handful of lawmakers are hoping to change.