Skip To Content

Singles (Financial) Therapy: How to Plan for Retirement on Your Own

Back to all posts

March 25, 2019

SINGLES ARE DELAYING—or opting out of—marriage. Divorce rates are up. And widowhood can strike when least expected. As a result, more and more people these days are finding themselves planning for retirement on their own.

Without a dual income to work with, building a comfortable nest egg can be challenging. “It requires a new, more focused way of thinking about retirement planning,” says Debra Greenberg, director, Retirement and Personal Wealth Solutions, Bank of America Merrill Lynch.


“It’s a myth to think that a single person’s expenses are only half of a couple’s,” Greenberg notes. “Saving enough to cover all your expenses in retirement can be more challenging when you only have one income to work with,” she says. “You need to be even more diligent than if you had a spouse or partner saving along with you. Talking with a financial advisor can help you create a plan to double down on your preparations.”


Below, Greenberg offers ways to address three of the biggest retirement challenges single people can face.




For more tips and insights to help you plan ahead for your retirement, health care and estate planning needs, read The Best Retirement Advice? Be Flexible, Health Savings Accounts Explained and How Do You Want to Be Remembered?

A Merrill Contribution
Women's Guide to Social Security
Could a 529 Education Savings Account Affect Your Child's Financial Aid?
Back to all posts

Learn what it’s like to work with a Merrill Lynch financial advisor

Our financial advisors are committed to putting your investing needs, wants and priorities first. Here’s how you can get started with an advisor.

Search by location

Contact us


You need to answer some questions first

Then we can provide you with relevant answers.

Get started