Going Solo: Making a Plan for Retiring

Today’s generation of solo seniors is looking to embrace all that life has to offer — in whatever way works best for them.

Solo seniors are generally happy and optimistic about the years ahead. At the same time, it’s important to remember the planning required to fulfill your retirement experience. Keep reading to learn how to get it done—and ensure you continue living a fulfilling and rewarding life.

What Is a Solo Senior?

A solo senior is generally defined as someone who is older than 50 and has no significant other or children to support them. According to AARP, roughly one-third of people aged 50 and older live alone and either don’t have children or can’t rely on them for help. Millions more are married, but don’t have children and will eventually join the ranks of solo seniors.  

The Challenges of Retiring Solo

Solo seniors face the same practical realities that those with spouses and children do, but they lack the built-in support network to depend on as they age. While it benefits everyone to plan for their retirement years, solo seniors need to be especially innovative and forward-thinking about their future. According to this New York Times article, only about 40% of solo seniors have designated someone to make financial and medical decisions on their behalf. Less than 20% have made plans for continuing care should they need it down the road. 

Single Senior Retirement Strategies

The good news is that having family nearby isn’t the only solution for solo singles. With sufficient planning, you can ensure that you continue to live exactly as you wish. Experts recommend having advance directives outlining your wishes about medical treatment and end-of-life care; a will that specifies how you want your assets distributed; and a health care proxy and durable power of attorney that names people you trust to make medical and financial decisions if you are incapacitated. Finally, it’s a good idea to specify any other concerns or wishes, such as who will care for your pet and who will receive special possessions like family heirlooms. 

Solo But Not Alone

The bottom line for today’s seniors is that being single is not the same thing as being lonely. Senior living communities — like Stonebridge at Montgomery in New Jersey — make a point of catering to them through a wide variety of engaging activities, lively events, and fun outings. Just check out the monthly activities calendar to see the many options there are, ranging from French Club to cornhole games. 

Life at Stonebridge at Montgomery

From working in the greenhouse to enjoying a leisurely lunch with a new friend, there’s always something interesting to do at Stonebridge at Montgomery. Our campus in Skillman, New Jersey includes an art studio, fitness center, multiple dining options, walking trails, and more. Click through our online photo gallery to get a glimpse of the beauty of our campus. Or, contact our team today to schedule a personal tour and see for yourself. We’d love to show you around!