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New LIMRA Retirement Income Institute report explores how widowed women can build financial confidence and long-term security

WINDSOR, Conn., June 23, 2026 — A new study from the LIMRA Retirement Income Institute finds that millions of widowed women face significant financial and emotional challenges following the loss of a spouse, underscoring the need for greater financial preparedness, support systems, and professional guidance.

The report, “A Widow’s Walk to Financial Confidence,” by Suzanne Norman, a fellow of the LIMRA Retirement Income Institute, examines how widowhood reshapes women’s financial lives and identifies practical strategies to help them navigate this life transition.

An estimated 11.7 million widows live in the United States today, many of whom must quickly assume full responsibility for financial decisions—often for the first time. At the same time, the stakes are rising: $54 trillion in wealth is expected to transfer between spouses through 2048, with more than 95% going to women.

“Widowhood is one of the most challenging life transitions, both emotionally and financially,” said Suzanne Norman, a fellow at the LIMRA Retirement Income Institute. “With the right tools, planning, and support, women can move from uncertainty to confidence and regain control of their financial future.”

The research highlights several key risks:

• Financial vulnerability: Widowed women age 65 and older experience higher poverty rates than their peers.
• Lack of preparedness: Nearly half of Americans do not have a written financial plan.
• Income loss: Household income often declines after the death of a spouse.
• Emotional strain: Grief can impair cognition and decision-making during a vulnerable period.

The report also underscores the importance of guaranteed income sources such as Social Security, pensions, and annuities in helping provide stability and peace of mind.

It outlines practical steps to help widows and their families navigate this transition, including organizing financial accounts, creating or updating a comprehensive plan, working with trusted professionals such as financial advisors, attorneys, and tax experts, and building strong emotional and social support systems. It also cautions against making major financial decisions in the early stages of grief. Financial professionals play a critical role throughout this process, not only by offering guidance, but also by providing education, empathy, and long-term support.

With increasing longevity, evolving family dynamics, and the ongoing “Peak 65” retirement wave, widowhood is becoming a more central part of the retirement experience. The research highlights the growing role of caregivers, particularly Gen X daughters, in supporting aging mothers through both financial and emotional transitions.

To read the full report, please visit: https://limrafinpro.com/retirement/widow-financial-planning/.

About the LIMRA Retirement Income Institute

Advancing retirement income security through research and collaboration, the LIMRA Retirement Income Institute provides insights and solutions — guided by leading retirement scholars and institute fellows — to help Americans retire with less risk and greater confidence. Visit www.limraconsumer.com/retirement-income-institute.

About LIMRA

Serving the industry since 1916, LIMRA offers industry knowledge, insights, connections, and solutions to help nearly 700 member organizations navigate change with confidence. Visit LIMRA at www.limra.com.