45% of the 47.5M Americans aged 65+ are single. The majority are women.
Single retirees who are not living with family members, face unique retirement challenges. This report highlights their unique concerns, experiences, and financial planning needs, particularly for single women retirees.
- Single retirees feel more confident about their finances when they have an advisor, a formal retirement income plan, and an annuity.
- Half of single retired women clients have consolidated 90 percent or more of their assets with their advisors — twice the rate of single men clients.
- Single retirees lose retirement confidence when the costs they experience exceed what they expected.
- Six in 10 single retired women spend more than expected on housing, and 4 in 10 spend more than expected supporting family members of any age.