Retirement Planning for Single Households

By Brent Meyer — SafeMoney.com Founder & Editor Reviewed by Licensed Financial Professionals  |  SafeMoney.com — Trusted Since 2011  |  Updated Regularly Quick Answer: Explore retirement planning for solo agers and discover safe money alternatives to secure your future. Start planning today with SafeMoney.com! Related Articles Retirement Planning Services | Retirement Planning Retirement Planning For Women | Retirement Planning Retirement Income Planning | Retirement Planning Retirement Tax Planning | Retirement Planning Key Takeaways Start early to maximize savings and investment growth for your retirement. Consider fixed annuities as a reliable source of guaranteed income during retirement. Utilize retirement calculators to assess your financial readiness. Explore healthcare options to ensure you are covered as you age. Consult a SafeMoney certified advisor for personalized retirement strategies. Quick Answer Retirement planning for single households, or solo agers, involves unique considerations such as building a robust support network and choosing safe money alternatives to ensure financial security. Early planning is crucial for a comfortable retirement. SafeMoney Editorial Team  |  Reviewed by Licensed Financial Professionals  |  Updated Regularly Understanding the Solo Ager Trend The concept of "solo agers" is becoming increasingly relevant as more baby boomers enter retirement without spouses or children. According to the American Society on Aging, approximately 20% of boomers are solo agers. This demographic shift necessitates a unique approach to retirement planning, focusing on personal support networks and financial security through safe money alternatives. Building a Reliable Support Network For solo agers, establishing a dependable support network is essential. This network can include friends, neighbors, and community organizations. Engaging with local groups or churches can provide social interaction and assistance when needed, especially in emergencies or when healthcare support is required. Housing Considerations for Solo Agers Choosing the right living situation is crucial for solo agers. Considerations include the feasibility of aging in place and the potential need for home modifications to accommodate mobility aids. Solo agers should evaluate whether their current home meets these needs or if relocating to a more accessible environment is beneficial. Exploring Safe Money Alternatives Financ