Hong Kong's affluent rethink retirement and wealth strategies as longer lives reshape financial priorities

Hong Kong — New research from Manulife and FT Longitude finds that while Hong Kong’s affluent are adapting their wealth strategies to longer, more complex lives, relatively few have a fully integrated plan in place. As many affluent individuals expect to remain active well beyond traditional retirement age, they are increasingly rethinking how they work, invest and manage their wealth across multiple stages of life.

These findings come from The New Fluidity, new research from Manulife and FT Longitude based on a survey of 1,000 high-net-worth and mass-affluent individuals across 11 locations in Asia-Pacific and the Middle East, including Hong Kong¹. The study explores how longer lives, increasingly international lifestyles, and rising complexity are reshaping wealth planning needs and priorities.

Hong Kong’s affluent turn retirement into multi-phase ‘portfolio lives’

Rather than planning for a single, fixed retirement, many of Hong Kong’s wealthy are preparing for multi-phase lives that blend work, family responsibilities and new personal pursuits. Among Hong Kong-based affluent individuals surveyed, nearly one in three (32%) plan to work slightly longer than the traditional retirement age of earlier generations, extending their working lives by five to ten years. Another 26% expect to work for as long as possible, underscoring a shift towards more fluid “portfolio lives” that blend income-generating activities, personal pursuits and family priorities.

As they adapt to these longer and more dynamic lives, Hong Kong’s affluent are already reshaping their financial strategies. Two-thirds (66%) say they are redesigning their portfolios to support a more flexible lifestyle rather than a fixed retirement date. Nearly three-quarters (74%) say market, geopolitical or tax developments are prompting them to review and update their wealth plans more frequently.

Longer lives and greater fluidity are outpacing fragmented wealth plans  

Longer, fluid, multi‑phase lives are changing how Hong Kong’s affluent work, retire and manage their wealth, yet many are still relying on fragmented plans built for a shorter, more linear path. Only 18% of Hong Kong respondents report having a fully integrated wealth plan that connects investments, tax, succession planning, legal structures and family governance – leaving the majority managing these dimensions in silos.

The need for a more integrated approach is becoming increasingly apparent as financial, family and cross-border considerations grow more interconnected. More than half (54%) hold assets or residency across multiple jurisdictions, and 77% support financial dependents. Circumstances are also shifting over time: nearly 48% have restructured their wealth planning in the past five years due to changes in life stage or family structure, underscoring the increasingly interconnected nature of their planning needs.

Wilton Kee, Chief Executive Officer of Manulife Hong Kong and Macau, said: “Hong Kong’s affluent are increasingly moving beyond the idea of a single, fixed retirement. Instead, many are preparing for multi-phase lives that blend work, family responsibilities and personal aspirations, yet their wealth plans may not have evolved at the same pace. Many families are juggling diverse financial interests, assets in different markets and long-term aspirations for future generations. The research shows that what clients increasingly need is not just performance, but coherence: a strategy that can adapt to changing circumstances, anticipate future needs, and bring investments, protection and succession planning into a single integrated view.”

Health costs emerge as a critical blind spot in longevity planning

Beyond investments and succession planning, the research highlights another area where preparedness remains limited: healthcare and caregiving. Hong Kong records the highest proportion of respondents in the survey who feel unprepared for key health-related shocks, including a large uninsured medical bill (29%), a critical illness (26%) and funding a family member’s long-term care (23%). Over longer lifespans, these risks can compound and place growing pressure on family finances if they are not anticipated early.

KC Cheung, Chief Product Officer of Manulife Hong Kong and Macau, said: “People consistently underestimate three things: how long they will live, how quickly healthcare costs rise, and how expensive access to the best treatments can become. Longevity means we now need an entirely new model for retirement and wealth planning. Insurance is becoming a cornerstone of that transition, because it can help families lock in protection, manage healthcare costs and preserve their lifestyle over a much longer lifespan.”

Hong Kong's affluent families express the highest concern about next-generation preparedness

Longer lives also mean families need to make financial decisions together over a much longer horizon. Yet many wealthy families in Hong Kong have not fully brought the next generation into those conversations. More than half (53%) of respondents say they have not yet involved future heirs in wealth planning discussions, and 41% are not confident that the next generation will manage family wealth effectively – the highest level of concern among all surveyed locations.

The research also points to a strong demand for more coordinated professional advice. Seven in ten (70%) Hong Kong respondents say they would benefit from a single, trusted adviser who can help coordinate their overall wealth strategy, yet only 18% currently have a fully integrated plan. When selecting financial advisers, respondents place a premium on those who can proactively identify emerging risks or planning opportunities (46%), offer a holistic understanding of their financial situation across products and jurisdictions (45%), and provide personalized guidance that reflects their specific circumstances and goals (42%).

For Manulife, helping clients navigate life’s transitions and build resilient, multi-generational wealth strategies is an increasingly important part of its role as a leading international financial services provider in Hong Kong and across Asia. For further details of The New Fluidity research, please visit: https://www.manulife.com.hk/en/individual/promotions/where-will-better-take-you/longevity.html#the-new-fluidity-report.

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.