United boss Ferguson, now 69, said this week he has no intention of retiring and 47-year-old Mourinho is also hoping for a long career in management.
He explained: "I hope he continues for years and I get to face him a few more times.
"When I am in my 50s or 60s, I also see myself still in football with the same ambitions and desires. So I understand why he wants to continue. It was the same with Bobby Robson. I see myself continuing for many years."
On his own career Mourinho said: "In the beginning I had the pressure because I went into management after not being a top player, so I had a lot of things to prove.
"After Porto the pressure was the question 'can he achieve abroad?" Everything then went well in England. Italy is the home of tactics, so the question then was 'is he a good leader and a good tactician, can he compete in this world of football?' Yes I could.
"Now I go to Spain and everybody says 'Real Madrid is an incredible club, a club different to any other club - can he cope with it?' So I am trying to prove that I can and step by step, stage by stage with this new challenge it motivates me more and more."
The event also focused on the FA Cup and LMA chief executive Richard Bevan added: "This event was unique, bringing together football managers past and present, celebrating their achievements in one of the game's most famous cup competitions...and Jose Mourinho added to a truly memorable evening."