Retirement Planning for Singles Webinar

We’ve found that people retiring as a single person have different needs from those retiring as a couple. Whether you’re newly single or you’ve been single all of your life, let’s make retirement planning easier by doing it together.

During this webinar, we explored the challenges and opportunities of preparing for retirement, especially when you’re on your own:

  • We discussed what singles need to consider about their retirement nest egg, Social Security, long-term care costs, and more.
  • We heard from a panel of retired, single plan members about their current experiences in retirement — what they did well in planning and what they wish they would have done better.

Watch the Recording

Retirement Planning for Singles Webinar
Presented on April 27, 2017
Presenters and Panelists: Grace Pomroy, Mark Duder, Bishop Robert Driesen, and Deacon Diane Johnson

Watch the video

Webinar Follow-up Resources

Review the Slides

5 Things You Can Do Today

  1. Use Portico’s new Retirement Planning Tool to see if you’re on track for retirement. Portico’s Retirement Planning Tool can help you create a retirement plan in four straightforward steps. As part of the retirement planning process, the tool may recommend that you change your investments and/or increase your contributions to your ELCA retirement plan account. If you choose, you can make these changes right away by implementing your plan at the end of the tool.
  2. Learn more about how you might maximize distribution options like the ELCA Participating Annuity and Social Security. If you’re looking for an income source that you won’t outlive, the ELCA Participating Annuity might be a good choice. Take a look at your options with Portico’s Annuity Options Calculator. Download the Social Security Claiming Guide to learn more how much money you can expect and get answers to frequently asked questions. If you are divorced or widowed, the Social Security website has more information related to your specific situation.
  3. Take care of the legal estate planning documents and name your proxies. Estate planning is important for everyone, but it’s especially important for single people. Need some help getting started on your will? Check out this Will and Trust Workbook from the ELCA Foundation. You’ll also want to name your proxies like a durable power of attorney and health care power of attorney. Consult an estate attorney in your area to help you get your documents in order. Be sure to designate and update, if necessary, your beneficiaries — the person or persons to receive your ELCA retirement account balance, life insurance, annuity payments, and retiree lump-sum survivor benefit when you die.
  4. Tend to the softer sides of your retirement journey. Consider how you will use your time. How will you stay mentally and physically active? Where will you find community? Where might you live to ensure that you have the community engagement that you need? For ministry leaders, the transition to retirement can be particularly challenging as they prepare to leave their congregational communities. Mary C. Lindberg’s book, The Graceful Exit: A Pastor’s Journey from Goodbye to Hello, offers many helpful stories and questions to guide you through the transition.
  5. Talk to a Portico Financial Planner. Want a helping hand as you create your retirement plan? Call a Portico Financial Planner and get unbiased financial guidance from someone who understands the blessings and challenges of working for the church — at no out-of-pocket cost to you.