The odds of being single at some point during retirement are high and present unique challenges for both “ever single” retirees who never married and for those who become “suddenly single” in retirement due to divorce or death of a spouse. In fact, 43% of Americans age 65 and older are single due to divorce, having never married, or the death of a partner.
These statistics are included in the BMO Retirement Institute’s report Single in Retirement. The release of the report was timed to coincide this week with the Montreal-based institute’s expansion from its home market of Canada into the U.S. Going forward, the institute will examine a variety of topics related to retirement and issue comprehensive reports on the financial and non-financial aspects of this milestone event in investors’ lives. The institute is an arm of the Canadian bank and financial services company BMO Financial Group.
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