Olde Hornet
Well-Known Member
Planning for Retirement as a Single Person
If you’re unmarried and childless, you need special strategies for retirement saving, health care and estate planning—and a support network you can call on.
getpocket.com
For many people, the reality of aging alone becomes clear as they care for their parents and wonder who will be there to help them when they need it, says Joy Loverde, author of Who Will Take Care of Me When I’m Old?. Growing older without a significant other or adult kids means you’ll need to build a cast of supporting characters—including extended family, trusted friends and paid professionals—who can help with your finances, make medical decisions if you’re incapacitated and prevent you from becoming isolated as you age.
In addition to finding people who will manage your financial and medical affairs, you’ll probably need people to stop by, run errands or drive you to appointments. Many solo seniors branch out on the family tree, tapping siblings, nieces, nephews or cousins, while others add close friends to the mix. Zenger plans to rely on a longtime friend she has known since the two attended high school together in Panama. “She lives nearby and knows what I would do in various situations,” Zenger says.