The theme this week on the Retirement Quick Tips Podcast is: 5 Lessons On Retirement From The Golden Girls

Today’s lesson from the golden girls is: Living the single life is likely. All the Golden Girls were either widows or divorced and it’s likely that you may face the same situation in retirement. Would it shock you to know that The average age of widowhood is 59 years old, according to the U.S. Census Bureau, and many widows could go on to live another few decades after the death of their spouses. Many of you listening are older than 59, and living life in retirement that differs from our original plans is something that most people push out of their mind as soon as the thought bubbles up. 

In my own practice, I have many, many clients who are single in retirement because of a death of a spouse or a divorce. One of my favorite clients died a couple years ago. She lived into her 90s but was a widow for 40 years prior to her death. She managed just fine, but knowing how to manage the family finances without the help of your spouse is essential. 

The Golden Girls certainly had their struggles because they had to navigate their retirement years as single people, but it’s an important thing to plan for. If you’re married and your spouse died or became disabled today, would you be able to pick up the pieces and be okay financially? What would you need to do differently or what skills would you need to learn to be able to function better on your own? 

I know it’s tough to think about if you’re married, but it’s important. 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast. 

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance