Retirement Planning for Women, Built Around Your Life

1. Know your own numbers

   Even if a spouse has handled the finances, know where every account is, what it is worth, how it is titled and who the beneficiaries are. Open a free my Social Security account at ssa.gov to see your earnings record and benefit estimates.

2. Plan for income to age 95 or beyond

   Build your plan around a long life rather than an average one. Test it against living to 95 or 100, and against a bad market in the first years of retirement.

3. Get your Social Security strategy right

   Women often have more claiming options than they realize: your own benefit, spousal benefits, survivor benefits and divorced spouse benefits. Choosing the right one at the right time can add tens of thousands of dollars over a lifetime. See our Social Security optimization service.

4. Build a guaranteed income floor

   Cover your essential expenses with income that lasts for life, so market swings do not decide whether you can pay the bills. Then invest the rest for growth and flexibility.

5. Plan for taxes, including the widow’s tax trap

   Required minimum distributions and the move from joint to single tax brackets can push your taxes up later in life. Roth conversions and a smart withdrawal order can help. Try our free Tax Bomb Calculator to see the hidden tax in your IRA or 401(k).

6. Prepare for healthcare and long-term care

   Know your Medicare enrollment window at 65, choose coverage that fits your health and budget, and decide how you would pay for care at home or in a facility. Learn more about healthcare planning in Florida.

7. Put your estate plan and beneficiaries in order

   Make sure your will or trust, durable power of attorney, healthcare surrogate and beneficiary designations reflect your wishes today, especially after a marriage, divorce or death in the family. See our estate planning guidance.

Beyond your own retirement benefit, you may qualify for benefits based on a current, late or former husband’s work record. Social Security pays the highest benefit you are eligible for.

Summary only. Rules have exceptions, and benefits are reduced when claimed before full retirement age (67 for anyone born in 1960 or later). The Social Security Fairness Act, signed in January 2025, repealed the Government Pension Offset, so many widows and spouses with a government pension now qualify for these benefits.

Most of us would say yes, as long as we have our health, our independence and enough money to enjoy it. The risk is not living too long. The risk is outliving your plan. About 1 in 4 of today’s 65-year-olds will live past 90, and about 1 in 10 past 95 (Social Security Administration).

We build plans designed to last to 95 or 100, with:

• Income you cannot outlive, from Social Security, pensions and, when it fits, annuities that pay for life.
• A healthcare plan for Medicare, supplemental coverage and long-term care.
• Tax-smart withdrawals so more of your savings stays yours.

Whether you never married or have been on your own for years, you are the whole plan: one income, one set of savings and no spousal or survivor benefit to lean on. That is not a weakness. It simply means every decision carries a little more weight.

• Delaying Social Security can be especially valuable, since your own benefit is the only one you will receive.
• Disability and long-term care protection matter more when there is no second income. Explore disability income insurance.
• Your estate documents should name who makes decisions for you if you cannot, so a court never has to choose for you.

• No state income tax on Social Security, pensions or IRA withdrawals.
• Homestead exemption and the Save Our Homes cap on your primary home’s assessed value.
• An additional $5,000 property tax exemption for widows.
• Strong creditor protection for homestead, retirement accounts, annuities and life insurance cash value.

Moving to Florida? See our guide to establishing Florida residency and the Florida Retirement Checklist.