If you're like some Americans, you don't want to give up your luxuries. Some of us have become accustomed to those occasional filet mignon dinners, morning lattes and getaway vacations. Apparently, we'd rather work longer than give up some of life's little pleasures.

According to a Retirement Income Survey released by MainStay Investments, Americans are delaying retirement to maintain their lifestyle. The firm surveyed more than 500 financial advisors and found that 61 percent of them indicated that their clients are not as concerned about their retirement needs as they are with giving up luxuries such as travel and dining out.

The survey highlights a significant gap between fantasy and reality for many American households. With the long-term solvency of Social Security questioned, health insurance premiums soaring and retirement funds depleted after the wild stock market ride of '08-'09, working families seem to be wearing rose-colored glasses.

Indeed, the survey shows a need for increased education to help individuals prepare for retirement. According to advisors, fewer than half their clients understand how much money they should save to retire comfortably. In addition, advisors agree that their clients need guidance understanding how much of their nest egg they can dip into upon retirement without wiping out their financial security.

The survey also revealed that more than half of investment clients have delayed their retirement. While 46 percent say stock market losses fueled their decision, another 40 percent cite health insurance and medical care costs as their reason.

Other findings from the study include: •60 percent of advisors say their clients are concerned about too much exposure in equities. •91 percent have made adjustments to their clients' portfolios as a result. •Mutual funds remain the preferred retirement product. •Guaranteed-income products such as annuities are becoming increasingly popular and currently offered by three-fourths of advisors.