The Unique Retirement Planning Considerations of “Single Savers”

It’s been widely reported that the marriage rate among Americans has declined sharply in recent decades. According to the Census Bureau, 60.8% of households were headed by married couples in 1980. By 2024, that figure had fallen to 47.1%.

Divorced, widowed, or never partnered singles can face retirement planning challenges that differ from their married or partnered peers. Findings from Nationwide’s latest Advisor Authority study highlight some of these potential challenges.

Nationwide’s survey suggests single investors are acutely aware of the added pressures they face. More than a third say they contend with greater financial strain than married or partnered peers. Moreover, nearly one in five said they wonder if they’ll ever be able to retire. That concern is reflected in the state of their retirement savings: only 23% reported that they have at least $250,000 saved for retirement, and only 18% said they have $500,000 or more. 

According to Nationwide, the challenges single savers face tend to surface across several key areas. 

• Emergency funds: It can be more challenging to build an emergency fund on a single income. Not having backup savings in place can make it more difficult to manage the unexpected and adhere to retirement savings strategies. 
• Long-term care: Singles are less likely to have a clear caregiving solution in place, so long-term care solutions should be considered early in the planning process. 
• Taxes: Singles could face higher tax rates compared to married couples, which can affect their savings abilities and goals. 
• Social isolation: The research highlights the importance of a strong support network in a single person’s retirement planning strategy and suggests loneliness can take a toll on emotional well-being – both before and during retirement – which in turn can impact financial decisions

Without a partner to share the responsibilities of retirement planning and financial decision-making, single workers may benefit more from in-depth, one-on-one guidance and planning conversations with a financial advisor. 

Sources: 

https://news.nationwide.com/single-in-retirement-looking-for-love-and-financial-security/  

https://www.cnbc.com/2025/12/11/single-income-households.html  

https://usafacts.org/articles/state-relationships-marriages-and-living-alone-us/  

Material connection - Retirement Plan Advisory Group, https://www.rpag.com 

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