But Standard Life says that doing that could lead to a financial shortfall in later life, with funds unable to meet all their needs.
Jenny Holt, managing director, customer savings and investments at the firm, said:
"I think it's natural that the vast majority of people focus on the early retirement years, when they tend to be active and healthy, and pay little or no attention to the later stages when they may be inactive or require care.
"It's much easier to anticipate those happy moments in our lives - however, this could leave a financial hole in later life, especially as we are living for longer and the time we spend in retirement is subsequently increasing.
"As we move away from defined benefit to defined contribution pensions, underestimating or not thinking about finances for the full duration of retirement could have a detrimental impact. It's therefore crucial that people feel informed and engage with their retirement finances so they can have a financial future that lasts the full length of retirement."
Standard Life has conducted research among almost 5,000 UK consumers.
It discovered that 52% of people confess they simply avoid thinking about being older in retirement.
Those who are not yet retired think they will be able to support their lifestyle until the age of 84, while those already in retirement expect to support themselves until 81.
However, latest figures show that more than 600,00 people are aged 90 or over - highlighting the challenge that people may face in making their savings stretch.
Three-quarters of people say they have done little or no planning around the amount of money needed to live on in retirement, while nearly three in 10 admit they never review their long-term finances to check how things are progressing.
A third also stated they preferred to live for today than plan for tomorrow.
However, Standard Life's research shows that planning can have a significant impact, with those who have prepared for the future expecting their funds to support them for 19 years, compared to just 11 years for those who have not done any planning.
Ms Holt added:
"We don't know when the inactive phase of retirement will kick in, and it can be a difficult thing to think about, but it's essential that we do.
"Having a plan in place brings peace of mind and can improve quality of life, but it's important to be realistic about the duration of retirement - from the active stages to the less-active ones.
"We have been working with the Pensions and Lifetime Savings Association to incorporate its retirement living standards' into our Retirement Income tool which shows people whether they are on track for a comfortable, moderate, or minimum income in retirement, which can potentially help address this question over how long people might expect their savings to last."
Based on tax legislation at the time of publication. Please be aware that there will have been changes since this was published. Speak to your adviser for the most up to date information.
