The recession has taken a toll on many Americans’ financial well-being, but retirees and those close to retirement face particular hardship, CNNMoney.com reported.

One in four Americans age 50 or older said they had exhausted all of their savings during the recession, while 67 percent at least reduced their retirement savings account balances during the previous three years, according to a report by the AARP Public Policy Institute released today.

More than half, 52.6 percent, said they were not confident they will have enough money to live comfortably in retirement.

“Many older Americans have been buffeted by skyrocketing health care costs, dwindling home values, shrinking pension and investment portfolios and employment struggles,” said John Rother, AARP’s executive vice president for policy, strategy and international affairs, in a press release.

More than 80 percent of respondents said the economy has affected their retirement plans. During the recession, nearly one in three said their home declined substantially in value and one quarter experienced a job loss.

To read the full story on CNNMoney.com, click here.