Retirement for single women in America is a multifaceted journey, shaped by financial realities, life expectancy, and the absence of a partner. As millions of single women grapple with these factors, they find unique ways to redefine retirement on their terms. We delve into the lives of four remarkable women who have retired solo, each carving out fulfilling paths despite the obstacles.
Lori Renee Fye: A Resourceful Path
Lori Renee Fye, a 65-year-old retiree from Canton, Ohio, exemplifies resilience. With no savings or investments, she relies solely on her Social Security check of $1,665 and the $100 her former spouse sends her each month. Despite financial constraints, Lori finds solace in living with her brother, emphasizing the importance of trusted companionship during retirement.
Deb Hallisey: From Caregiving to Authorship
Deb Hallisey, 66, hails from Lawrenceville, New Jersey. Her diligent savings during her consulting career allowed her to accumulate $525,000. However, life took an unexpected turn when her father’s death forced her to care for her blind mother. Deb lost her job but discovered a new purpose—writing about caregiving. She now draws $2,500 monthly from her retirement savings and earns $500 from her business, all while pursuing her passion.
Stephanie Perry: The FIRE Movement Advocate
Stephanie Perry, at 49, retired early, inspired by the FIRE (Financial Independence, Retire Early) movement. She left her pharmacy tech job at 41, seeking the freedom to explore the world. For Stephanie, retirement means being anywhere at any time. Her $100,000 in savings supports her annual spending of $30,000, allowing her to embrace a nomadic lifestyle.
Marianne Simpson: A Financial Advisor’s Transition
Marianne Simpson, after winding down her financial advisory business, fully embraced retirement. Her journey exemplifies the importance of planning. While her financial nest egg remains undisclosed, Marianne’s focus is on enjoying life and pursuing her passions.
Despite the financial disparities faced by single women, these retirees prove that retirement is not just about money—it’s about resilience, creativity, and the pursuit of purpose. As they redefine retirement norms, they inspire others to forge their own paths.