Key takeaways

  • Healthy individuals, especially those with higher incomes, face a real possibility of living past 100, making traditional 30-year retirement plans insufficient for many
  • Improving longevity literacy, extending planning horizons and tailoring communication are all essential to helping people prepare for a longer retirement
  • Products like annuities, long-term care insurance and lifetime income options within employer-sponsored retirement plans can help pre-retirees achieve a more secure retirement

Summary

It’s no longer rare to live past 90 — or even 100. For healthy, higher-income individuals, the odds of joining the “Century Club” are rising fast. In fact, 1 in 5 healthy couples retiring at 65 will have at least one partner live beyond age 100. That makes planning for longer life spans essential.

Most people, however, still plan as if retirement will last 30 years. That gap creates real risk.

A longer time horizon requires more savings, a smarter withdrawal strategy and realistic expectations about market returns. In fact, Monte Carlo failure rates rise by 41% when adjusting from a 30-year to a 35-year retirement — and by more than 300% if near-term returns are lower.

The good news is that mindset makes a difference. People with a positive view of aging are more likely to plan, save and prepare for a long life. They’re also more confident about retirement and more likely to take action.
1 in 5 healthy couples retiring at 65 will have at least one partner live beyond age 100.

Consider these strategies for helping your clients

Improve longevity literacy

Help people understand how long they might live boosts retirement confidence and planning behavior.

Extend planning horizons

Stress-test retirement plans for at least 35 years to better reflect today’s realities.

Encourage a positive outlook

Optimism is closely tied to better financial preparation.

Tailor communication

Gender, mindset and decision-maker roles influence how people approach retirement decisions.

Expand access to tools

Formal plans and trusted guidance can make a meaningful difference — especially in underserved groups.

Focus on confidence

Frame products such as annuities and long-term care insurance as tools that provide emotional security, not just income.
For more detailed insights, read the full report:
“Century Club – Findings from The American College of Financial Services.”