Many Women Will Be Single in Retirement. Are You Ready?

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By Maryalene LaPonsie

Regardless of whether they were married earlier in life, many women will be single at some point during their retirement years. Over half (54 percent) of women age 65 and older were single in 2014, according to U.S. Census Bureau data. Those women may have always been single or may be widowed or divorced.

“In any of these situations, women need to be ready to take charge of their retirement,” says Mary Jo Herseth, senior vice president and national head of banking for BMO Wealth Management. Here are six ways women, especially those who are currently married, can prepare for the day when they have to manage their retirement alone.

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