November 10, 2026

Retiring Single? 5 Ways to Design a Retirement on Your Terms

Reading Time: 7 minutes

Retiring single can mean different things to different people. For some, it’s a choice that brings greater freedom and independence. For others, it’s the result of divorce, losing a spouse, or simply finding themselves approaching retirement without a partner. Whatever your circumstances, retiring alone doesn’t mean giving up the retirement you’ve envisioned.

In fact, more Americans are embracing independent living. According to 2025 AARP research, approximately 24 million adults ages 50 and older live alone. Among those surveyed, 35% cited freedom and autonomy as the best aspects of living alone.¹

But with that independence comes greater responsibility for making financial decisions and preparing for the future.

Here are five steps to design a retirement that supports your independence while helping you prepare for whatever life brings.

1. Develop a Retirement Income Strategy You Can Count On

When you’re retiring independently, there’s generally no partner’s income to fall back on if unexpected expenses arise or financial circumstances change.

That’s why recognizing how much income you’ll need, where it will come from, and how long it could last are important first moves.

Start by estimating your essential monthly expenses, including housing, groceries, utilities, and health care. Then compare those costs with your expected income from Social Security, pensions, and retirement savings.

Consider whether you could benefit from additional sources of predictable income. For example, a fixed indexed annuity with a guaranteed lifetime income feature can provide regular payments for life, helping cover essential expenses regardless of how long you live.*

Take action: Talk with a financial professional about building a retirement income strategy that accounts for your needs today and the possibility of living well into your 90s.

2. Prepare for Future Health and Care Needs

One advantage of retirement is having more time to focus on your health and the activities you enjoy. But it’s also important to consider how your needs might change as you age.

If you live alone, at some point you may need to arrange help with transportation, household responsibilities, or personal care. Having a plan for those possibilities can give you more choices about how and where you receive assistance.

Consider what Medicare will cover, whether long-term care insurance makes sense for your circumstances, and other ways you might pay for additional support.

Some annuities also offer benefits that can provide increased access to funds or additional income for a period, when qualifying health-related conditions are met.

Take action: Research the potential costs of care in your area and identify financial resources that could help cover those expenses without disrupting the income you rely on for everyday living.

3. Choose a Living Situation That Supports Your Independence

Your home can play a significant role in the retirement lifestyle you want.

You may love where you live today, but will it continue to meet your needs years from now?

Think beyond your home’s current affordability and physical accessibility and consider how easily you can maintain it, live safely, access medical care, and stay connected to activities and people you enjoy.

You might decide to remain in your current home, downsize to something easier to manage, or move closer to friends or family. Exploring your options early can help you make those decisions on your own terms.

Take action: Evaluate your current housing costs and accessibility. Consider what changes could make it easier to remain independent as your needs evolve.

4. Build a Support Network You Can Rely On

Living alone doesn’t mean you have to handle everything yourself.

Yet many people approaching retirement alone aren’t certain they’ll have the support they need. A recent survey found that only 26% of respondents aging without traditional family support were very confident their existing networks could provide the assistance they might need as they grow older.²

Think about the support you might need in different situations, whether it’s transportation to medical appointments, help recovering from a procedure, or someone to call during an emergency.

Friends, family, and neighbors can all play valuable roles in helping you maintain your independence. But if you don’t have individuals you can rely on, investigate community organizations, local aging services, and professional caregivers who may be able to provide the support you need.

Building these connections before you need them can help give you more options and confidence about the future.

Take action: Identify people or services you could turn to for assistance. If your personal support network is limited, contact your local area agency on aging to explore available resources.

5. Make Sure Your Wishes Are Known and Protected

When you’re making retirement decisions independently, it’s especially important to consider who could act on your behalf if you were temporarily or permanently unable to make certain decisions yourself.

Without the appropriate legal documents, even people who know you well may have difficulty managing your affairs or carrying out your wishes.

Consider working with an estate planning attorney to establish or review important documents, including:

A financial power of attorney to authorize someone you trust to handle financial matters if needed.
A health care power of attorney to designate someone to make medical decisions if you're unable to do so.
A will or trust to document how you want your assets distributed.
Beneficiary designations to help ensure your retirement accounts, annuities, and life insurance proceeds go to the intended recipients.

It’s also a good idea to organize important financial information so trusted individuals can locate it when necessary.

Take action: Review your existing legal documents and beneficiaries. Make sure the people you’ve designated understand your wishes and know where to find essential information.

Your Retirement, Your Terms

Whether retiring alone is something you’ve always envisioned or a path you didn’t expect to take, you have opportunities to shape the years ahead.

The decisions you make today can help you maintain your independence, protect your financial resources, and create more flexibility for whatever retirement brings.

You don’t have to make those decisions alone, either.

A financial professional can help you evaluate your retirement income needs, prepare for potential expenses, and explore strategies designed to support the retirement you want to live.

Start the conversation about how to make your retirement work for you.