8 Things Nobody Tells You About Retiring Alone

Retirement is a long-awaited season for many, but retiring without a partner can seem daunting. However, there are some benefits to spending your twilight years alone, such as having the freedom to choose where and how you spend your days. Depending on how well you've prepared for retirement, those solo days could turn into some of the best of your life.

Here are eight things nobody tells you about retiring alone.

First and foremost, if you're considering retiring alone, you'll need to organize your estate. Financial documents like your will, trust, beneficiary designations, and power of attorney should all be kept updated and in an accessible spot.

A financial advisor can be a great asset when you decide to complete and store these types of documents. These professionals can also consult on the current state of your finances and let you know what kind of income you can expect in your sunset years.

Retiring alone doesn't mean you'll be lonely. There are plenty of avenues for making connections during retirement, like traveling or volunteering for causes that excite you.

Research shows that retirees who engage in social activities can combat loneliness effectively. Although you'll have the opportunity for solitude in retirement, there will still be many ways to form meaningful connections.

Getting older is expensive. It comes with extra doctor visits, more prescriptions, and inevitably the need for extra household help. Planning for your long-term needs when anticipating a solo retirement can go a long way.

Retirees entering their later years with a partner have the benefit of extra assistance as they need help with household chores, administering medication, or hygiene care. Retiring alone might mean you need to plan for the expense of hiring a trusted professional to help you with these kinds of tasks.

Most of the time, when we think about retiring alone, we think about living in a retirement community or an assisted living home. But retiring alone doesn't automatically lead to these living arrangements.

If you desire to age at home or live with loved ones, there are tools to make it happen. Home health care is an option for in-home medical and household care. And your family members could even get paid as your caregiver through Medicaid.

Many Americans rely on Social Security funds to get them through retirement. But if you're single, you can't expect this line of income to cover all your expenses in retirement.

If you plan to retire on your own, it's best to set up at least one individual retirement account to supplement your Social Security income. That way, you'll have the benefit of multiple streams of income in retirement to cover your financial needs.

If you're retiring by yourself, every action you take to stay healthy is like a gift to your future self. Whether it's working out regularly, going to physical therapy, sleeping and hydrating adequately, or eating well, you won't regret the investments you make into your well-being.

These small choices can keep you from developing adverse medical conditions necessitating additional medical care (and expenses). For single retirees, maintaining a healthy lifestyle is key to a stress-free retirement season.

Any aging individual needs to appoint a health care proxy with discernment, but for single retirees, it's even more pertinent.

A health care proxy is a document indicating a representative that you'd like to appoint to make medical decisions on your behalf if you become incapacitated. You could appoint a trusted family member or family friend as your proxy, but make sure you have this legal document properly filled out and accessible.

Anticipating retirement can be daunting and exciting at the same time, but planning for unforeseen circumstances can help alleviate some stress.

If you find yourself in circles with trustworthy friends, family, and neighbors, you can build a network of care for yourself. Reach out to these individuals to be sure they want to be included on your team, and document the plan you come up with. In the case of any health, safety, or financial hardships, you can reach out to your network of support.

Whether by choice or by happenstance, many retirees in America are entering their twilight years as singles. If you find yourself in this demographic, make sure your retirement plan takes these eight considerations into account.

And if you need a place to start when entering the overwhelming world of saving for retirement, opening your first individual retirement account is a great place to begin. It's never too late to start setting aside funds to save for a comfortable retirement.