Many Americans spend their lives working hard and dreaming of the day they can finally retire.

Of the 47.8 million Americans ages 65 and older, the average income is only $38,515 dollars, according to the U.S. Census, and their average net worth is $170,516.

According to a Gallup poll study, when  18- to 29-year-olds were interviewed about retirement, younger people expressed optimism that they’ll be able to retire early, closer to their early 60s.

Average life expectancy is not a good way to plan for how much money you’ll need in retirement; many Americans live much longer than the average of 78.7 years, going well into their 80s or 90s.

Americans value longevity. 81% of Americans are moving assets to live longer than their ancestors by cutting costs, getting life insurance, and maximising retirement contributions, according to a TD Ameritrade survey.

The TD Ameritrade survey showed that 44% of Americans ages 40 to 79 have taken money out of a retirement plan. While 46% of people 40 to 49 have done so, and 53% for people 70 to 79.

According to a TransAmerica Center survey, 77% of American workers are saving for retirement through employer-sponsored retirement plans as well as other options.

The most common reasons for retirement are health and job shifts, according to the TD Ameritrade survey.