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Growing older without a spouse or adult children means you'll need to build support who can help with your finances, make medical decisions and prevent you from becoming isolated as you grow older (extended family, trusted friends, and paid professionals):
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Getting the right documents in place will make it easier when you become unable to manage your affairs.
If you were married for more than a decade and then divorced or your spouse died, you may qualify for Social Security benefits based on his or her work history.
Many singles don't have a strong enough backup plan to cover the costs of a major illness or other problems.
If you don't have long-term-care insurance, a chronic illness could quickly drain your retirement funds.
Nearly 70% of seniors will eventually need some form of long-term care, and about 20% of them for more than five years.
Group long-term disability policies offered by employers typically replace up to 60% of your income.
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Knowledge on Retirement planning is essential as it needs to be planned right from the beginning of career.
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