Retirement Retirement Planning

10 Strategies You Should Take If You'll Be Retiring Solo

These practical, confidence-boosting strategies may help solo retirees protect their finances, health, and independence.

By Summer Nevins

Edited by Lisa Dammeyer

Updated Dec. 2, 2025

Retiring on your own can be a liberating feeling. But it can also be intimidating. You get full control of your time, your money, and your next chapter, but you also shoulder every financial decision yourself. From health care to housing to who's in your corner when you need help, the decisions are solely yours.

So, set yourself up for retirement and consider these smart, practical strategies every solo retiree should know about.

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Create an estate plan

When planning for retirement, you should consider creating an estate plan, whether you have a partner or not. But having an estate plan is all the more important when you are retiring solo.

Even if you don't consider yourself wealthy, a simple will protects your assets and makes sure they go exactly where you want in the end. It protects your home, savings, and sentimental items. Make sure you add beneficiary designations on every account and keep them updated, too.

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Set a budget

With one income and one Social Security check, it's super important to know what you can afford. Therefore, setting a budget is absolutely imperative. Without a partner's income as backup, aim for an extra financial cushion, whether through a larger emergency fund, delayed Social Security, or conservative withdrawal rates.

Find a community

Retiring solo doesn't mean going at it alone, and loneliness can be a real risk when you're retired and living alone.

Whether it's friends, family, neighbors, a senior community, or simply maintaining a robust social life, it will be important to be part of an active community as you age. There are physical and mental health benefits to having a network of people. Plus, it's helpful for your overall safety to have a support network for emergencies and check-ins.

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Consult a professional

In addition to your community you've built, consider bringing in a few trusted professionals to support you as you age solo. A financial planner, a lawyer, and health care providers can help you navigate complex decisions and prepare for situations where you may need extra guidance. Build a team you can rely on when it matters most.

Automate your finances

Setting up a financial "autopilot" system will keep your money flowing smoothly in retirement. By automating recurring bills, minimum debt payments, and even small savings contributions, you remove the risk of missed deadlines and late fees. Automation also helps stabilize your monthly cash flow, making it easier to manage your income and stay on top of expenses without constant hands-on oversight.

Plan for long-term care early

Plan for long-term care early so you're not scrambling later. Without a partner to help with daily tasks as you age, it's important to understand your options now. Explore long-term care insurance and hybrid life/long-term care policies, or build a dedicated budget for in-home support or assisted-living services.

Preparing in advance gives you more control, protects your savings, and ensures you'll have the right level of help when you need it.

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Think carefully about housing

Think carefully about housing well before you need to make a change. Many solo retirees thrive in smaller, low-maintenance homes, senior communities, or neighborhoods with strong social ties and easy access to health care. Thinking about your housing options now allows you to choose a place that fits your lifestyle and mobility needs, reducing the chance of having to make a stressful or rushed move later on.

Keep your health at the center

Regular checkups, consistent exercise, and preventive care become even more important when you're aging solo and don't have a partner reminding you to stay on track. Prioritizing wellness now helps you maintain independence longer, avoid preventable issues, and stay active and engaged as you move through retirement.

Establish a power of attorney and medical directives

And speaking of keeping your health at the center, establishing a power of attorney and medical directives so your wishes are honored is key in the event you can't speak for yourself. This paperwork is just as essential as your checkups. A financial POA, health care proxy, and advance directive ensure someone you trust can manage bills, make medical decisions, and follow your preferences, giving you peace of mind as you age solo.

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Revisit plans annually

Life changes. Health changes. Tax rules change. So, revisiting your plan annually is a smart money move for seniors. Take the time to evaluate your estate plan, spending, housing, and health care annually to make sure they still fit your needs.

Adjusting early can prevent bigger problems later and helps keep you prepared for whatever the next phase of retirement brings. Regular check-ins also give you a clearer sense of how well your long-term strategy is working.

Bottom line

Retiring solo comes with unique responsibilities, but the right preparation, solid estate documents, thoughtful financial planning, and a strong social network can make your next chapter secure and fulfilling. Avoid money mistakes and take small, consistent steps now to help protect your independence later.

And here's a detail worth noting: Nearly one in four adults over 60 now lives alone, a number that continues to rise. Planning ahead isn't just smart — it's becoming essential for a growing share of retirees.

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