August 24, 2011 Posted by: Tech CU
Whenever we talk about retirement or hear about different retirement plans, there is often the assumption that the retirees in question are a couple. 401(k) brochures tend to show two gray-haired people smiling together as they look out from their lovely vacation home (due to their effective long-term planning). With the marriage rate decreasing in the US and more and more people opting not to choose this traditional course, however, there is a growing group of singles who need to be prepared for their own later years — without the fallback of another income. As one person, you clearly need fewer savings for a healthy retirement, but you’ll also need to be a bit shrewder during your active working years. A couple of suggestions from the experts:
Sure, there can be lots of perks to being single – no one to pick up after or fight over the remote with. But, when it comes to retirement, it’s all on one person. Planning well and thinking ahead can help make the later years as smooth as possible.
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