Plan ahead, for the pricey prospects of living to 100 - and keep costs down

WHO would have thought those with net worth numbering seven figures would be plagued by financial worries. Yet, according to a study by UBS, 42 per cent of Singapore's millionaires worry that their wealth will not support them till age 100.

Despite having at least US$1 million in investable assets, excluding property, about two-thirds of the rich are anxious about the rising costs of healthcare. More than 60 per cent worry about whether they can afford their current lifestyle in retirement.

The moneyed class also seem to know that living to 100 is a pricey prospect, one that requires more spending on healthcare, better food, exercise and other services. About 46 per cent of them spend on preventive health expenses. Not only do they spend on doctors' visits and insurance premiums, they spend significantly on gyms, fitness coaches, supplements and other "lifestyle" expenses. Millennials tend to spend more on these services than other generations.