(StatePoint) Planning on retiring single? You aren’t alone. Nearly 22 million Americans age 65 and older were unmarried in 2019, according to the U.S. Census Bureau, representing 41.5% of those in that age category. And for women, it’s more likely to be the case. According to the Administration on Aging, 54% of older women are unmarried, as compared to 30% of older men.
“Retirement planning can be especially challenging for singles, who need to prepare without the decision-making and income support of a partner,” says Scott Pedvis, financial advisor, Wells Fargo Advisors.