Dave Hughes: How to Survive and Thrive as a Single Person in Retirement
Reprinted with permission from RetireFabulously.com
Are you single? If so, you probably have some concerns about your retirement that people with partners are less likely to experience.
If you’re married (or otherwise partnered), don’t click away! Consider that, unless you and your spouse pass away at the same time, one of you will experience being single at some point. Later in this article, I will suggest several things you can consider now that will make life easier for the surviving spouse when that time comes.
One of the greatest fears that most of us harbor is the fear of dying alone or spending your final years lonely, bored, and confined in a retirement home.
With proper planning, it doesn’t have to be this way.
As with adult life in general, most information you read about planning for and living during your retirement is heavily couple-centric. Single retirees have a few unique concerns that often aren’t comprehended or addressed by websites, books, senior living communities, and other information sources.
For some people, being single is nothing new.
Generally speaking, single seniors fit into one of two broad categories: those who have been single for much or all of their lives, and those who have been married for most of their adult lives and are more recently single as a result of divorce or the passing of their spouse.
Long-term singles have an advantage in that they are already accustomed to living alone. They are adept at making friends, finding activities and groups to join, and maintaining a support network. They are self-sufficient and comfortable with spending time alone. In fact, many singles relish their independence and autonomy, and they usually aren’t looking to find a partner. They are quite happy being single. They have more freedom, can budget and spend as they see fit, travel where and when they want, and participate in the activities that are most rewarding to them.
The biggest challenge that long-term singles face is that they may have saved less for retirement, because they have been solely responsible for maintaining their household on only one paycheck throughout their working years. Women may be at an additional disadvantage due to gender-based pay discrepancies, which leaves less money for retirement savings.
People who become single after being coupled for many years face a significant lifestyle adjustment that could easily last beyond the bereavement period.
On the other hand, the surviving spouse may be better situated financially, assuming that both spouses saved for retirement or, in the case of single-earner households, the breadwinner saved with the anticipation of a retirement for two people. The surviving spouse may also benefit from a life insurance payout.
In this article, I’ll cover three areas of special concern to single retirees: socialization and support, living arrangements, and travel.
Socialization and Support
Cultivate a support network. Identify people who are available to occasionally check in on you and help with tasks such driving you to appointments and assisting you with shopping and chores. If you are healthy and independent now, you may not require the support of others for many years to come. But an emergency could occur at any time, so it’s a good idea to have a network in place now.
Many medical procedures are done on an outpatient basis, so you will need to have someone who can transport you home and visit regularly to assist you during your convalescence. Hiring a home care aide is an option, but that can get expensive.
If you don’t have family members nearby who are willing and able to assist you, you will need to rely on friends and neighbors. You shouldn’t wait until you need help to figure out who can assist you. It will be awkward to try to develop a friendship with someone when it’s obvious that you have an immediate need for them.
If you aren’t surrounded by a sufficient support network of friends, family, and neighbors, research whether there are senior support organizations in your area and what services they can provide. If you are planning to move to a new locale in retirement, the existence of such an organization would be a good criterion for you to consider.
Avoid loneliness. This seems obvious, but you will probably have to put more effort into creating and maintaining friendships once you no longer work, as well as after your marriage ends.
An excellent option is to take classes on topics that interest you. Not only will you enjoy mental stimulation, but you’ll meet people who have similar interests. Local community colleges or universities may have programs allow senior learners to attend courses on a non-credit basis for free or at low cost. The Ultimate Retirement Resource Guide lists several networks that will help you locate free and low-cost adult education opportunities in your area.
Get out of the house! While you may value having some solitude in your life, you shouldn’t spend all your time at home.
If you can’t find a friend to go with you, don’t let that stop you from going to a restaurant, movie, concert, museum, or a day trip. Enjoying entertainment on your own can be a big adjustment if you are newly single after years of marriage.
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