It may be more common for single investors to feel financial stress than partnered investors. This stress can affect the financial decisions they make and their ability to realize their retirement savings goals.
More than one in three single investors say they experience more financial strain or financial hardship compared to those with spouses or partners.
A majority of single investors are far from reaching their retirement savings goals, and many will need professional guidance to help them avoid a retirement savings shortfall. Yet, only one-third (35%) currently pay to work with a financial professional, compared to around half of married or partnered investors.
Less than half of single investors say they would need up to $600,000 in retirement savings to feel comfortable about their retirement futures.
About one-quarter say they have at least $250,000 saved
Only 18% of single investors say they have $500,000 or more saved.
With many clients nearing retirement, financial professionals are focusing their guidance on securing and maximizing retirement income. Strategies for retirement account withdrawals and when to file for Social Security benefits are popular ways of counseling single clients as they approach retirement, cited by around one-half (49%) of financial professionals. A slightly smaller number (39%) are also helping clients with plans for health care and long-term care in retirement.
Help single clients plan for a secure financial future.
Turn to Nationwide for a wide range of resources and insights you can use to personalize your planning with single clients. You’ll find support around different financial topics so you can address the specific needs of your single clients.
This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.
The Harris Poll, on behalf of Nationwide, conducted an online survey in the U. S. among 610 advisors and financial professionals and 2,524 investors ages 18+ with investable assets (IA) of $10K+, January 6-25, 2025. Among the investors, there were 866 single investors in total including 423 women investors, 434 men investors, 460 investors age <50, 406 investors age 50+ as well as 1,658 married or partnered investors.
For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Kristen Vasas-Samson at vasask@nationwide.com