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Before the death of a spouse, here’s how to prepare a financial plan for living alone

October 5, 2018

From the USA Today website

Of all the risks couples face in retirement, the death of a spouse is a certainty.

But they don’t seem to be planning it, according to a Merrill Lynch and Age Wave study on widowhood. Consider:

+ More than half (53 percent) of widows say they and their spouse did not have a plan for what would happen if one of them died.

+ Seventy-six percent of married retirees say they would not be financially prepared for retirement if their spouse died.

+ Following the death of a spouse, half of widows experience a household income decline of 50 percent or more.

So what should couples do to better prepare for the loss of a spouse?

From → Finance

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