Women find themselves living alone during retirement in greater numbers than their male counterparts. Researchers say forty percent of female retirees are single, compared with thirty to thirty-five percent for men. That gap continues to widen as the age of the retiree increases.
What is behind so many women entering retirement alone?
There are a variety of reasons, some new and some old.
What are the ramifications of facing retirement alone when you are a single female?
Single men and single women share some concerns, such as living in a secure environment and finding support with personal needs as they age. What’s different is the financial outlook. Retirement can be more of a financial challenge for senior women.
Finances and the Single Retiree
Here are a few factors women should keep in mind when planning a financially secure retirement:
Financing Senior Living
If you are a single senior exploring options for retirement living, how to finance it may be a leading concern. We encourage you to visit and review Affording Senior Living: Financial Options. You’ll find ideas for paying for senior living that range from veterans benefits to bridge loans.