According to a recent article in the Toronto Sun, a recent survey indicated that single boomers treasure the personal freedom of the single life, but also plan to work longer and have concerns about who will care for them in their elder years.

Personal freedom and the ability to manage personal finances without interference were cited by respondents as the most important values in their lives. Near a majority, 43% of respondents said they will likely retire later in life because they are single and 28% said they plan to work past the traditional retirement age of 60 to 65.

Yet, many single boomers don’t have children and are worried that they may not have someone to care for them in old age and they don’t have a financial plan designed to meet the unique needs of being single.

The survey supports the notion that a personal financial plan is absolutely necessary to secure personal freedom into the future, especially for singles who don’t have the built-in support of a spouse or partner.

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