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Majority of wealthy Americans think they will live to be 100

With life expectancies on the rise, 58 percent of affluent Americans believe they could live to be 100; the implications on retirement finance are staggering.

By Paula Aven Gladych | Updated on February 23, 2012

With life expectancies on the rise, 58 percent of affluent Americans believe they could live to be 100, according to the latest Merrill Lynch Affluent Insights Survey. Seventy-five percent of those surveyed said they would approach their money management differently if they knew today they were going to live that long.

To financially accommodate a longer life, 39 percent said they would continue to work at least part-time in retirement. Thirty-seven percent said they would work with their financial advisor to reevaluate their savings and investment strategies. Thirty-two percent said they would invest in a lifetime income product, such as an annuity or contribute more to a 401(k), IRA or other retirement savings vehicle. Twenty-nine percent said they would purchase long-term care insurance and 25 percent said they would retire closer to 85 than 65.

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