One-in-five U.S. adults ages 50 and older have never had children, according to Pew Research Center analysis of government data. Whether you decided not to have children because of choice, infertility, or circumstance, you may be worried about what will happen to you as you get older. Society often says that children will fill the gaps as parents age. This isn’t always the case, however.
Retiring childfree doesn’t necessarily mean that you’ll age alone. But it does mean that you’ll have to plan ahead. Especially if your health declines as you age, you’ll want to be prepared. There are several considerations you’ll have to account for in your golden years. Here are a few things that you need to think about if you’re childfree.
Reasons You Won’t Age Alone
If you decide to live a childfree lifestyle, there are several ways to make sure that you don’t age alone. First, if you focus on building your social network, you’ll always have people you can rely on. Social connections don’t just have to be family members. Some of your best connections may be neighbors, community members, and friends. These people can become your chosen family that will be there for you through it all.
In addition to building your social network, you’ll also want to plan ahead if you’re childfree. Securing long-term care and insurance is critical. You never know how your health will be as you age, so you should prepare for the unexpected. It’s also important to organize your finances and designate a healthcare proxy so that you have necessary support.
While you may have to plan ahead for your old age, you’re probably more financially secure because you didn’t have children. The reality is that raising children is expensive. You may have more disposable income and assets than people with children do. For example, according to Census data, childless women have a higher net worth than those with children. This can give you more flexibility to secure the lifestyle you want in retirement.
Challenges to Keep in Mind
As you age, you may feel more isolated without close family ties, like children. Data has shown that childless adults are also less likely to be married or living with a partner. So, most likely, you will be living on your own. This may create challenges as you age. For example, your mobility may decline, leaving you to rely on hired help to manage finances, make decisions, and manage your day-to-day. But not having children doesn’t mean that you have to be lonely and isolated as you age. You just may have to be more intentional in building your support systems.
Key Considerations about Living Childfree
While having children doesn’t fix every aging dilemma, it does mean that you most likely have a strong support system as you age. If you are childless, it’s important to be organized, make plans for your health and estate, and find people around you who care for you. By doing so, you can ensure your well-being throughout your days. Then, you will never have to age alone.
Read More
What Are the Most Popular Summer Remodeling Projects?
8 Ways Couples Are Secretly Building Wealth While Everyone Else Complains
