Financial and Retirement Planning for Women

Key Takeaways

• Coordinate with your spouse on finances even if one person manages day-to-day—ensure both partners attend advisory meetings so the surviving spouse won't need to change advisors after death or illness, which 70-80% of widows currently do
• Delay Social Security claiming as a surviving spouse or divorcee: claim on an ex-spouse's record at full retirement age, then switch to your own benefit at 70 to maximize lifetime benefits through delayed retirement credits
• If remarrying after 55-60, wait until age 60+ to preserve eligibility for spousal or survivor Social Security benefits, which you lose if you remarry before 60
• Before accepting pension survivor benefits, verify the actual payout amount and structure—don't assume 100% survivor protection; confirm details in writing to avoid losing half or more of expected income
• Single women should plan for 5+ extra years of potential lifespan and long-term care costs compared to male peers; build an advisory team (financial advisor, attorney, accountant) to compensate for not having a spouse to bounce decisions off