It’s critical for older singles without family members to name someone to handle their legal, financial, and medical affairs should they become incapacitated. But it’s also important they focus on maintaining their health and building a social network.
“Social support becomes extra important for singles,” says Meredith Stoddard, who leads the life event experience team at Fidelity Investments. “You need to create a safety net.”
That’s not always easy, especially if you’ve never played the role of social coordinator in your household. Don’t discount informal arrangements—going to a senior center or a strength-training class—because “it would be noticed if you didn’t show up,” says Stoddard. “Make sure your routines work for you.”
Are you a homebody? Consider joining an online community, such as “Living Alone and Connected!” on Facebook.
Make sure your permanent living arrangements work for you as well. One option is to open your home to roommates. A home-sharing service such as Silvernest can help you find such a setup.
If that isn’t your cup of tea, look at other community-building alternatives. For instance, a continuing-care retirement community (CCRC) offers accommodations ranging from independent living to nursing home care. In a naturally occurring retirement community (NORC), neighbors organize informally to provide a network of support services (find information on both at www.aarp.org and www.fidelity.com/aging).
Virginia Wilkins, 79, bought a home in a 55-plus community as soon as she was eligible, and she hopes to spend the rest of her life there. Wilkins is typical of most seniors, who say they prefer to stay in their own home (see www.ageinplace.org).
For singles, that can mean taking simple precautions, such as posting on your fridge information about emergency contacts and medications in case it’s needed quickly, or outsourcing as many chores and services as possible, from mowing the lawn to paying the bills. Companies such as Carefull (https://getcarefull.com) and EverSafe (www.eversafe.com) will monitor your accounts for mistakes or signs of fraud.
Whatever living arrangements you choose, consider whether you can pay for long-term care, whether in your home or at a facility, should you need it. If you have significant assets and a history of good health, you may be able to self-insure. If not, look into long-term-care insurance.
