“Planning for Retirement as a Single Person,” by Kaitlin Pitsker, Kiplinger

“Aging presents uncertainties for everyone, but single, childless seniors are missing the backup that many people take for granted: a spouse or adult children who can step in when needed. Many of the usual basics of saving, investing and long-term financial planning apply to those aging without a life partner or adult children, but they also need special strategies for retirement saving, health care and estate planning. … No matter how carefully you’ve planned or how much you’ve saved, if you don’t have long-term-care insurance, a chronic illness could quickly drain your retirement coffers. … In recent years, premiums for long-term-care policies have spiked, and the benefits have become skimpier. But buying early—generally when you’re in your late fifties or early sixties and still healthy—and making a few tweaks to the coverage can help keep the policies affordable.”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

Kiplinger provides a steady stream of mostly sound advice about LTCI.

Planning for Retirement as a Single Person

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