Retiring Solo: How to Make Your Personalized Plan

Many solo seniors today lead happy and fulfilling lives. However, many have not adequately planned for the future, which can put their long-term well-being at risk as they enter into the next chapter. With the right steps, you can ensure a secure, rewarding, and fulfilling future.

What Does it Mean to Be a Solo Senior?

A solo senior is defined as someone who is 50 or older and has no spouse or children to depend on for help. According to the AARP, about one-third of adults aged 50 and older live alone and either don’t have children or can’t depend on them. The AARP also reports that millions more are married without children and will eventually be on their own after their spouse passes away.

The Challenges of Retiring Solo

Solo seniors face the same challenges as those with reliable family members do, but they lack a built-in support network to depend on as they age. While everyone must plan for their future, solo seniors have to be more proactive and forward-thinking when thinking of their later years — a reality that’s outlined in this New York Times article. Only about 40% of solo seniors have specified who can make financial and medical decisions on their behalf and less than 20% have made plans for continuing care.

Solo Senior Retirement

The good news is that having family nearby isn’t the only way forward for solo singles. With careful planning, you can ensure that you can continue to live in the way you like.

Experts in the field recommend having advance directives outlining your wishes about medical treatment and end-of-life care; a will that specifies how you want your assets to be distributed; and a health care proxy and durable power of attorney that names people you trust to make financial and medical decisions if you are unable to do so. Finally, you’ll want a letter that fills in any holes such as who will care for your pet or who will receive any possessions that are special or meaningful to you. 

Solo But Not Alone

Today’s solo seniors have proven that being single isn’t the same thing as being lonely. Senior living communities — like The Oaks at Denville — are aware of just how many solo seniors there are and cater to them through a wide variety of engaging activities, lively events, and fun outings. From the performance hall to the heated indoor pool, there are always opportunities for meeting people and enjoying life. 

Going Solo at The Oaks at Denville

At The Oaks at Denville, we recognize the importance of making meaningful connections. Throughout the year, our community fosters a sense of belonging and engagement through carefully planned activities, our holistic LivWell program, exceptional services, and a wide array of amenities. Every aspect of life is designed to create opportunities for residents to build lasting bonds and enjoy a vibrant, connected lifestyle all year long. Contact us today to learn more about our welcoming environment and how we make every day special for the seniors who call The Oaks at Denville home.