As HNW Individuals Embrace Increasingly Fluid, Multi-Phase Lives, Only 17% Have an Integrated Wealth Plan to Keep Up

ASIA AND THE UAE — Longer lives are changing what wealth needs to do. As high-net-worth (HNW) individuals expect to remain active for decades beyond traditional retirement age, many are rethinking how they work, invest and use their wealth throughout their lives. Rather than planning for a single retirement phase, they are increasingly preparing for multiple stages of work, reinvention, family responsibilities and new opportunities. This shift is prompting a rethink of traditional approaches to wealth planning.

That is the central finding of The New Fluidity (opens in a new tab), new research from Manulife and FT Longitude among 1,000 HNW and mass-affluent individuals across Asia-Pacific and the Middle East. While many wealthy individuals are adapting their lifestyles and investment strategies to longer lifespans, relatively few have put in place an integrated wealth plan that connects investments, protection, succession and family governance.

Retirement is no longer a finish line

Traditional notions of retirement are giving way to more fluid, multi-phase lives — what the Manulife-FT report describes as “portfolio lives”, where HNW individuals continue to divide their time, energy and capital across multiple roles, ventures and priorities. Only 35% plan to retire at or before the traditional retirement age, while more than a quarter (27%) say they expect to work for as long as possible.

Rather than stepping away completely, many expect to remain actively engaged in different pursuits. Nearly half (46%) plan to manage personal or family investments more actively, 43% intend to pursue personal interests such as travel or study, 34% expect to take on advisory roles, and 28% plan to start a new business or venture.

These findings reflect a broader shift in how wealthy individuals are approaching life. Retirement is increasingly viewed not as an endpoint, but as a transition into a new phase of life defined by continued productivity, autonomy and purpose.

Wealth fluidity matters as much as wealth accumulation

As HNW individuals adapt to longer and more dynamic lives, flexibility is becoming as important as investment performance or returns. Nearly two-thirds (65%) say adaptability and optionality are now more important to their long-term financial security than wealth accumulation alone. In response, six in ten (60%) are already redesigning their portfolios around specific objectives such as liquidity, income, protection, succession and legacy.

Life insurance is increasingly playing a strategic role within that broader approach. Nearly three-quarters (74%) describe life insurance as an important component of their overall wealth strategy, using it to support business succession, estate liquidity, investment diversification, longevity and healthcare protection, as well as cross-border wealth transfer.

Bonnie Qiu, CEO, Global High Net Worth and Chief Partnership Distribution Officer, Manulife Asia, said: “HNW clients often don’t know how to retire — once they have built a business or a career, many simply want to keep going. The challenge is that a longer, more dynamic life demands a different approach to wealth planning. Wealth strategies need to evolve alongside changing priorities and circumstances. That’s why portfolios need diversification, flexibility and ongoing review, rather than a static plan designed for one stage of life. Success today is not defined by how much wealth people build, but by how well their strategy can adapt.”

A more integrated approach to wealth planning is needed

While wealthy individuals are adapting their lifestyles and investment strategies for longer lives, many have yet to connect the different parts of their wealth planning.

Only 17% say they have a fully integrated wealth plan covering investments, tax planning, succession, legal structures and family governance. Another 32% describe their plans as partially integrated, while 26% are still working towards a more integrated approach.

One reason is that advice often comes from different providers working separately. Lawyers, tax advisers, private banks and insurers may each focus on one aspect of a client's needs, making it difficult to see the bigger picture. As a result,  nearly three-quarters (72%) say they would benefit from a single trusted adviser who can help coordinate their overall wealth strategy.

The consequences are becoming more apparent as financial, healthcare and family decisions become increasingly interconnected. More than half (52%) rank rising healthcare and long-term care costs among their top concerns about living longer, yet fewer than half feel prepared for major medical expenses, cross-border healthcare needs or cognitive decline. These are issues that require planning and family conversations, not just financial resources.

Succession planning remains a critical preparedness gap

Longer lives do not simply mean wealth needs to last longer. They also mean families need to make important decisions together over a much longer period of time.

Business continuity and succession (40%) and preserving wealth across multiple generations (36%) rank among the most common concerns linked to longer life expectancy. Yet many families are still not preparing the next generation for those responsibilities.

Six in ten (60%) say the next generation has little or no involvement in wealth planning discussions, while fewer than half (48%) are confident that future heirs will be able to manage family wealth effectively.

These findings suggest that succession planning is still too often treated as a legal or structural exercise rather than a broader process of helping future generations build the knowledge, judgement and confidence needed to take responsibility for family wealth.

Ms. Qiu added: "The challenge for many families today is not only how to transfer wealth, but how to prepare the next generation to steward it responsibly. When future heirs are not brought into the conversation early, families risk leaving important decisions until moments of transition. Building financial literacy, sharing family values and establishing clear governance can help families navigate those transitions with greater confidence and continuity."

For Manulife, helping clients navigate life's transitions and prepare for future generations is an increasingly important part of building long-term financial resilience. As a leading international financial services provider, Manulife supports more than 37 million customers globally, manages approximately US$1.24 trillion in assets and operates across 25 markets worldwide.

The insights uncovered in this research work aligns with the Manulife Longevity Institute, a global research, thought leadership, innovation, advocacy, and community investment platform that will seek to drive action to help people live longer, healthier, and more financially secure lives. Learn more about Manulife’s Longevity research and insights at: Manulife.com/longevity. 

For media enquiries, please contact:

Pia Pennyfather

Edelman Smithfield Middle East

Pia.Pennyfather@edelmansmithfield.com

Alice Li

Chief Communications Officer, Manulife Hong Kong & Macau
Alice_SM_Li@Manulife.com 

About The New Fluidity research by Manulife

In April and May 2026, Manulife surveyed 1,000 high-net-worth and mass affluent individuals across Australia, China, Hong Kong SAR, India, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand and the United Arab Emirates. Respondents were aged between 18 and over 80 and had net worths ranging from US$3 million to more than US$50 million.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as ‘MFC’ on the Toronto, New York, and Philippine stock exchanges, and under ‘945’ on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

About Manulife Longevity Institute

The Manulife Longevity Institute is a global research, thought leadership, innovation, advocacy, and community investment platform to drive action that can help people live longer, healthier, and more financially secure lives. Underpinned by a $350 million signature commitment, its focus is on helping people extend their healthy years, promoting greater financial resilience for all. As a global insurer, retirement plan provider, and asset manager, Manulife is uniquely placed to help lead this change. The Institute's work will support Manulife's Impact Agenda strategy by investing in organizations that are growing the longevity economy, convening research collaborations with leading academic institutions and think tanks, and producing thought leadership to advance awareness and action on the issues impacting populations as they age. The Institute will be known as the John Hancock Longevity Institute in the United States. The actions of the Institute will be guided by a Steering Committee of members of Manulife's Executive and Global Leadership Teams and in partnership with a robust ecosystem of partners and experts who champion longevity across Canada, Asia, and the US.