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Group long-term disability policies offered by employers typically replace up to 60% of your income.
To ensure you have enough coverage, aim to bring your total coverage up to 80% o 90% of your take-home pay, including bonuses and commissions.
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.
If you're in good health, postponing benefits may be worth it. For each year you wait past full retirement age - up to age 70 - you get a bump of 8% in your benefit.
Getting the right documents in place will make it easier when you become unable to manage your affairs.
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.
Buying long-term-care insurance policies early - generally in your late fifties or early sixties - will help keep the policies affordable.
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):
Many singles don't have a strong enough backup plan to cover the costs of a major illness or other problems.
Ensure you have enough cash on hand to cover emergencies. For singles, the aim is between nine and twelve months of living expenses in a savings account. As you near retirement, consider bulking up to at least two years of living expenses.
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