Retirement Planning: What Happens If You Live to 100?

Retirement today isn’t what it used to be. Many of us can expect to spend 25, 30, even 40 years in retirement – far longer than previous generations. With people living longer than ever, there’s a real possibility of outliving your savings. This is why longevity planning – preparing financially and personally for a very long retirement – is now a crucial part of any retirement plan.

Longer Lives, Bigger Challenges

It’s great news that we’re living longer, healthier lives. In fact, multiple longevity experts believe the first person to live to 150 has already been born. Who knows, maybe that might even be you.

However, there’s major caveats that come along with increased longevity. One major concern is simply outliving your money. Imagine retiring at 62 and living to 100 — that’s 38 years of retirement you’d need to finance.

Longevity risk – the risk of outliving your assets – means you must plan for 30+ years of spending. And don’t forget inflation, which quietly erodes purchasing power over time. Healthcare costs in particular tend to rise even faster than overall inflation. Failing to plan for these realities could leave you short in your later years.

The High Cost of Health and Long-Term Care

A long life often means higher cumulative healthcare expenses. Medicare helps, but it doesn’t cover everything. If you retire before 65, you’ll also need to budget for private insurance. Across decades, out-of-pocket costs add up quickly.

Then there’s long-term care. Nearly 70% of retirees will need assistance at some point — whether it’s in-home care, assisted living, or a nursing facility. And those costs can be staggering, sometimes well over $100,000 per year.

How to prepare? Long-term care insurance can offset some of the financial burden. So can hybrid life insurance policies with long-term care riders. And if you’re still working, consider contributing to a Health Savings Account (HSA). These accounts offer triple tax advantages and can serve as a long-term healthcare fund.

Income Planning to Age 90 and Beyond

Financing a retirement that could last 30+ years requires a different mindset. Start by taking stock of your guaranteed income: Social Security, pensions, and annuities. Social Security alone likely won’t cut it — especially if you’re aiming for a comfortable lifestyle or if one spouse passes away and a benefit is lost.

Annuities can be a helpful tool here. Whether immediate or deferred, annuities convert savings into guaranteed lifetime income. They act like a personal pension, helping ensure that you’ll have income no matter how long you live.

Your investment strategy also matters. Retirees often need some exposure to stocks to maintain growth over decades. A well-diversified portfolio  or a “bucket strategy” that segments assets by time horizon can help balance growth and safety. And when it comes to withdrawing money, a flexible approach that adjusts with market conditions and personal needs is often wiser than rigid rules.

Lifestyle Planning for a Fulfilling Long Retirement

Longevity planning isn’t just about money — it’s about making sure those extra years are worth living. That means staying physically active, mentally engaged, socially connected, and emotionally fulfilled.

Think in phases: the “go-go” years of early retirement, the “slow-go” years in your 70s and 80s, and the “no-go” years that may follow. Plan accordingly: more travel and hobbies early on, more focus on support and care later.

Build routines that keep you healthy. Stay connected to your community. Consider where you’ll live, how you’ll get around, and who can help if your needs change. Lifestyle choices can make just as big a difference in retirement as financial ones.

Don’t Go It Alone – Plan for Longevity Now

The takeaway? Longevity planning should be a core part of your retirement strategy. You want your money to last as long as you do — and to maintain a high quality of life throughout.

That means addressing outliving your savings, healthcare inflation, and long-term care. But it also means having a vision for how you’ll spend your time, protect your independence, and adapt as you age.

You don’t have to figure it all out alone. Working with a professional can help you plan with clarity and confidence.