Divorced or never been married? The reason why you may be approaching retirement single doesn’t matter. Being single is still not an excuse to skip having a retirement plan. Retirement planning can be more challenging and crucial for single folks. Here are some tips for planning your retirement own your own.

Start Saving Now

It is never too early to start saving. The more you put away now the more that will be there when you need it in retirement. If you need to catch up on your 401k contributions or would like to open a separate Roth IRA account to put away extra, look into options available for catch up contributions above and beyond what you can normally put away.

Make Sure you Are Covered

Making sure that you have the right insurance to cover anything that happens to you can be critical. Having a lapse in coverage or even no coverage to handle medical or long term care bills can be catastrophic to a single person. Make sure to have enough health, long term care and disability insurance to cover all of your needs.

Know What’s Available

The more you know about your upcoming retirement, the better you can prepare. Know what investments are available for you as well as strategies for covering all of your expensive in retirement.

For any legal assistance in retirement planning or estate planning contact the legal experts at Stano Law group.