{"id":5684,"date":"2019-06-05T06:00:06","date_gmt":"2019-06-05T11:00:06","guid":{"rendered":"http:\/\/billlosey.com\/?p=5684"},"modified":"2019-06-05T06:00:06","modified_gmt":"2019-06-05T11:00:06","slug":"%ef%bb%bfretiring-single","status":"publish","type":"post","link":"https:\/\/billlosey.com\/knowledge-center\/%ef%bb%bfretiring-single\/","title":{"rendered":"\ufeffRetiring Single"},"content":{"rendered":"\n<p><strong> <\/strong><em>You will want to replace your income; you will also want to stay socially engaged.<\/em><\/p>\n\n\n\n<p><strong>About 6% of Americans 65\nand older have never married. <\/strong>That\nstatistic comes from a 2018 Census Bureau report, which also found that 22% of\nAmericans aged 65-74 live alone.<\/p>\n\n\n\n<p>If you think you will retire\nalone and unmarried, you will want to pay special attention to both your\nfinancial and social qualities of life. Whether you perceive a solo retirement\nas liberating or challenging, it helps to be aware of how your future might\ndiffer from your present.<\/p>\n\n\n\n<p><strong>Be aware that your\nretirement income needs may change.<\/strong>\nThey can be affected by unplanned events and changes in your outlook or goals.\nPerhaps, a new dream or ambition emerges; you decide you want to start a\nbusiness, or maybe, see more of the world. You could also end up retiring\nsooner than you anticipated. Developments like these could alter the \u201cbig\npicture\u201d of your retirement distributions.<\/p>\n\n\n\n<p><strong>You may need to reinvent\nyour social circle.<\/strong> Once retired, you\nmay lose touch with the people who were a big part of your day-to-day life \u2013\nthe people that your business or career connected you with, including your\nco-workers. If you happen to retire to another community, the connections\nbetween you and your best friends or relatives might also weaken, even with\nsocial media on your side.<\/p>\n\n\n\n<p>Ask yourself what you can do\nto try and strengthen your existing relationships and friendships \u2013 not just\nthrough the Internet, but in real life. Also, keep yourself open to new\nexperiences through which you can build new friendships. Returning to a past\nhobby or pursuing a new one could also connect you to a new community. <\/p>\n\n\n\n<p><strong>An estate strategy should\nbe a priority<\/strong>. Even if you have no\nheirs, you still have an estate, and you should have a say in how you are\ntreated as an elder.Consider having powers of attorney in place. These\nare the legal forms that let you appoint another individual to act on your\nbehalf, in case you cannot make short- or long-term financial or health care\ndecisions. <\/p>\n\n\n\n<p>There are four kinds of power\nof attorney. A general power of attorney can be written to give another person\nlegal authority to handle a range of financial affairs for you. A special power\nof attorney puts limits on that legal authority. A durable power of attorney is\nnot revocable; it stays in effect if you become incapacitated or mentally\nincompetent. Lastly, a health care power of attorney (which is usually durable)\nauthorizes another person to make medical treatment decisions for you.<\/p>\n\n\n\n<p>In addition to powers of attorney, a will, and possibly other legal forms, you will also want to think about extended care. Not everyone ends up needing extended care, but you should consider its potential cost. <\/p>\n\n\n\n<p><strong>All this being said, you may find a degree of freedom that your fellow retirees envy.<\/strong> If you remain reasonably healthy and active, you may marvel at how many opportunities you can pursue and how many adventures you can readily have. Retiring single can be a challenge, but it can also be an open door to a new intellectually and emotionally rewarding phase of life. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>You will want to replace your income; you will also want to stay socially engaged. About 6% of Americans 65 and older have never married. That statistic comes from a 2018 Census Bureau report, which also found that 22% of [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-5684","post","type-post","status-publish","format-standard","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/billlosey.com\/knowledge-center\/wp-json\/wp\/v2\/posts\/5684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/billlosey.com\/knowledge-center\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/billlosey.com\/knowledge-center\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/billlosey.com\/knowledge-center\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/billlosey.com\/knowledge-center\/wp-json\/wp\/v2\/comments?post=5684"}],"version-history":[{"count":0,"href":"https:\/\/billlosey.com\/knowledge-center\/wp-json\/wp\/v2\/posts\/5684\/revisions"}],"wp:attachment":[{"href":"https:\/\/billlosey.com\/knowledge-center\/wp-json\/wp\/v2\/media?parent=5684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/billlosey.com\/knowledge-center\/wp-json\/wp\/v2\/categories?post=5684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/billlosey.com\/knowledge-center\/wp-json\/wp\/v2\/tags?post=5684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}