Bearings can last decades if properly set up.
Don't ride the bike with the bearings loose. If there's any play in the rim then they are too loose. If you can wobble the axle around even a tiny bit then they are too loose. They should be just tight enough to take out all the play and no tighter.
Rubber seals can cause a feeling of drag, or your brakes could be dragging.
If you think the bearings are shot, google "pitted cones". That's what shot bearings look like. (the cone is part of the bearing, as well as the bearing balls.)