Who Will Take Care Of Me?

When Marcy contemplated retiring, she saw many new adventures-not to mention time to spend with her nine grandchildren. At 61 years of age she retired from teaching elementary school after 36 years. Now, she was primed to begin retirement . Although she had been earning her own way, supporting herself since her divorce 17 years earlier, she had one major concern. "Who will take care of me as I grow older? I don't want to burden my children, but I'm worried about whether I'll have enough money to cover expenses should I become ill."

This is a common situation when someone faces retirement alone. He or she has been widowed or divorced for some time now, or perhaps never married. As the life expectancy of women remains longer than men, this is more typically a woman's concern. Will I have enough money to support myself? I don't want to end up as a bag lady. I'm scared. What if I get ill? Who will take care of me? These are the very real concerns of women who fear the worst in being alone without financial means. Men too can find it a serious emotional concern. However, more typically women relate money to security while men more often see it as a means of power.

I've discussed this scenario with many people who are frightened. For both women and men, I stress the importance of long-term care. If there is no spouse in the picture, it is particularly important to be covered, and this might mean part-time work to carry health coverage if they do not still have benefits in place. At 65 years of age, Medicare begins. However, it is important to look at the larger picture and set up a long-term health plan that can provide some income along the way.

Once a good health plan is in place, many women feel more at ease, knowing money will be there to sustain them should this scenario arise. Then we work on the social and emotional aspects of retiring alone, which can focus heavily on socializing with other people and maintaining an active lifestyle.