Oh No -- You Might Live to 100! That Could Be Great, but How Will You Not Run Out of Money?

Key Points

• There are numerous downsides to reaching a ripe old age.

• They're not so bad if you prepare for them, though.

• There are upsides, too, of course.

• The $23,760 Social Security bonus most retirees completely overlook ›

You might be thinking it would be great to live to 100 or beyond -- but not everyone wants to live so long. Per a 2025 survey by the Nationwide Retirement Institute (NRI), only 29% of adults want to become centenarians (people who are 100 or older).

There are upsides and downsides to living such a long life. Here's a closer look at the issue, along with some strategies to employ -- just in case you reach the age of 100.

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What's wrong with living a super long life?

The NRI survey asked respondents about factors that make living to 100 a blessing or a burden. For workers age 55 to 65, blessings included having more time with loved ones (79%), being able to share wisdom with younger folks (60%), seeing how history advances (55%), and having more time to pursue interests (45%).

Also for workers aged 55 to 65, here are the things that would make living to 100 a burden:

Data source: Nationwide Retirement Institute, March 2025 Century Club Insights Report.

Those are all very reasonable worries.

What are your odds of reaching 100 or beyond?

Should you worry about any of those downsides of reaching a very old age? Well, the answer is different for each person, but you might find some clues if you think about how healthy and fit you are and how long most of your blood relatives have lived.

Here are some statistics to consider:

• Per the U.S. Census Bureau, the number of centenarians will quadruple by 2054.
• The American College of Financial Services (ACFS) says an American man retiring in good health has an 8% chance of reaching the age of 100.
• Also from the ACFS: "For a healthy female retiree, the chance of reaching 100 rises to 13%. For a healthy couple, there's a 20% chance one partner will make a century."
• The American Academy of Actuaries has estimated that 1 in 6 Americans born today will live to be 100.

The ACFS report also noted that:

[Traditional] financial planning considers a withdrawal rate safe if the money lasts to the age of 95. For a healthy couple retiring today, this yardstick can't be considered safe if half of them will have at least one spouse who lives beyond the age of 95. Even if the money lasts to the age of 100, one in five healthy couples will outlive their savings if no adjustments are made to their income withdrawal strategy.

Yikes.

How to prepare for a possible old age

So what should you do to prepare in case you live a very long life? Well, first off, take the time to develop a good retirement plan, estimating how much income you'll need in retirement and how you'll get it. You might start with the famous "4% rule." It suggests that retirees can withdraw 4% from their nest egg in their first year of retirement and then adjust subsequent annual withdrawals for inflation. It's not perfect, but it might get you thinking about the right ballpark nest egg to aim for.

The table below shows how much you might withdraw in year 1 with nest eggs of various sizes:

Data source: Author calculations.

There are other retirement withdrawal strategies to consider, as well. For example, if your investment portfolio is large enough, you might simply live off the income it provides via dividends and interest.

It's generally smart to set up multiple retirement income streams, such as Social Security, a pension, dividends, rental income, and/or an annuity. (Remember that while Social Security doesn't provide massive income, it does feature nearly annual cost of living adjustments (COLAs).)

Strategies for beefing up your nest egg

Here are some strategies to consider:

• Work a little longer: Simply delaying your retirement can be a powerful move.
• Save more aggressively: The more you invest, the bigger a nest egg you can grow.
• Invest more effectively: For dollars you won't need for at least five, if not 10, years, it's hard to beat the stock market. Consider one or more broad-market, low-fee index funds.
• Make good use of tax-advantaged retirement accounts: These include IRAs and 401(k)s, and both come in two main varieties -- traditional and Roth.
• Relocate to a less costly home: Alternatively, you might remain in your current region, but move to a smaller home that costs less in taxes, maintenance, utilities, insurance, and so on.
• Look into a reverse mortgage: A reverse mortgage involves receiving a lump sum or regular income via a loan -- with your home as collateral. Once you're no longer living in your home, the lender gets it, unless you or your heirs pay off the loan.
• Consider consulting a financial advisor: Finally, consider consulting a financial advisor, who can offer helpful guidance that might end up saving (or making) you a lot of money.

So don't stress too much about reaching the age of 100 -- but do prepare for the possibility.

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