Exactly half of Americans responding to a new survey from Corebridge Financial say they think it is possible they could live to be 100 years old.
To help prepare for the possibility of a very long life, the latest Corebridge research Living and Funding Longer Lives includes action steps that individuals can take as they plan not just for longevity but also for a retirement that could last for three or more decades.
The new Corebridge study details which generations are more inclined to want to live to 100 – Generation Z much more than baby boomers – as well as factors driving the optimism for longevity. Family longevity is one of these factors. Nearly 7 in 10 (67%) Americans who have centenarian family members think it’s possible they could achieve a 100-year life.
One key to a successful long life is strengthening and maintaining financial health, but there are other factors too, such as staying socially connected, living with purpose, taking care of physical and cognitive well-being, and monitoring healthcare status.
When asked to identify the top actions they would take now if they knew they would live to 100, Americans seem to recognize the importance of balancing financial, physical and mental well-being.
The new Corebridge research finds that only 3 in 10 Americans are extremely or very confident they won’t outlive their money and more than 8 in 10 say securing lifetime income in addition to Social Security is a priority in the next year.
Annuities can become that source of protected lifetime income. The new Corebridge research finds annuities can help people feel more comfortable spending their retirement savings and boost their happiness during this time.
Read the full Living and funding longer lives study and check out this eye-catching infographic to explore the opportunities and challenges associated with living longer lives, the drivers of optimism, and how thoughtful planning can help more people navigate longevity and look to their future with confidence.
