Money Quick Tips: Can you afford to live to 100?

• The number of centenarians jumped 5.8% since 2000, according to the Census
• When planning for a long retirement, annuitizing a portion of your savings may be a good idea
• Delaying collection of Social Security benefits to a later age may pay off

We're living longer. According to the Census Bureau, nearly 2% of Americans are age 85 and older. By 2060, the government projects the population of 85 and older will more than triple.

The Census also found that the overall number of centenarians has increased 5.8% since 2000. In this Money Quick Tips, we ask the question: Can you afford to live to 100? Things to consider:

Running the numbers and calculating the the range of options is a useful financial exercise.

When managing your long-term income stream, annuitizing at least part of your retirement savings may be a logical move. It essentially sets up an income stream you can't outlive. But it's a gamble: If you live long enough, it can pay off. If you don't, they pocket the change.

Most people rely on Social Security as it currently accounts for 50% of retirement income for most Americans 65 or older. Most financial advisers say its better to postpone collecting benefits until your full retirement age. Taking them early, you will receive a permanently reduced benefit.

When planning for a long retirement be sure to factor in inflation into your budget.

Regina Lewis is a national television contributor and host of USA Today's new daily "Money Quick Tips." Follow her on Twitter: @ReginaLewis.