Most retirement advice quietly assumes you’re part of a duo—two incomes, two Social Security checks, someone to split housing, travel, and even grocery bills with. But what if it’s just you?
If you’re single, the rules shift. The margin for error is smaller, yes—but the potential freedom is much greater. Your vision, your timing, your goals. You don’t have to compromise on how you want your life to look.
Today, I want to walk you through a simple three-step framework to build a retirement plan you can feel confident about. Not because you have a backup plan—but because you are the plan.
Here are the three steps we’ll walk through:
- Design Your Freedom Number
- Map Your Reliable Income
- Build a Portfolio With Purpose
Then, to show you how all of this works in real life, we’ll apply these steps to a simple case study. My goal isn’t for you to compare your numbers to someone else’s. My goal is for you to see the framework clearly enough that you can apply it to your own life.
Step One: Design Your Freedom Number
Before we talk spreadsheets or withdrawal rates, stop and ask yourself a much more important question: What does freedom look like for you?
Are you traveling—domestically, internationally, or both? Joining clubs? Volunteering? Spending more time with family? Funding big moments for kids or grandkids? Buying a new home? A new car? Supporting charities?
Your freedom number reflects the real cost of the life you want—not a generic calculator output. And if you’re single, this step becomes even more personalized. There’s no negotiating with a spouse about priorities. Your retirement reflects your version of freedom.
Tina’s Example
Meet Tina. She’s 62, owns her home, and has about $2.1–$2.2 million across investment accounts, a 401(k), and a Roth IRA. She initially came up with a simple number: she wants to spend $6,000 per month in retirement.
That’s a perfectly fine starting point. But the real question is:
Does that number reflect the life she wants? Or is it simply the number she thinks she’s “allowed” to spend?
We’ll circle back to this question—because as you’ll see later, once Tina understands what she can sustainably support, her sense of what’s possible begins to expand.
Step Two: Map Your Reliable Income
Once you understand what you want to spend, the next question is: How much of that can be covered by reliable income sources?
For most people, this includes Social Security. It might also include pensions, annuities, or rental income. The key is identifying the portion of your spending that’s supported by income not tied to your investment portfolio.
Why Singles Need a Different Approach
If you’re married, Social Security planning often prioritizes survivor benefits. For singles, the goal shifts toward maximizing lifetime benefits. There’s no second benefit to coordinate and no survivor to protect.
Quick note: if you’re single but were previously married, you may still be eligible for spousal or survivor benefits—assuming your marriage lasted at least 10 years.
Tina’s Reliable Income
Tina expects about $3,300 per month from Social Security at her full retirement age. She plans to start benefits sooner, at 65, which reduces that amount but gets income flowing earlier.
Now we can see the first gap forming:
- Freedom number: $6,000/month
- Reliable income: ~$3,300/month
- Gap: this difference must come from her portfolio
That gap becomes the bridge between step two and step three.
Step Three: Build a Portfolio With Purpose
Now that you know your spending needs and your reliable income, you can ask the real question: What does my portfolio need to do for me?
Not hypothetically. Not in the abstract. But in real dollars.
In Tina’s case, her analysis shows she’ll need roughly $49,000 in her first full year of retirement from her portfolio to supplement Social Security and cover taxes so she can meet her spending goal.
The critical part isn’t the exact number—it’s seeing it as a percentage of her portfolio. That’s what tells us whether something is likely sustainable.
Tina’s Withdrawal Rate
Tina’s projected withdrawal rate starts around 1.5%, even as she adjusts for inflation over time. That’s far below the traditional 4% rule of thumb. In other words, Tina has more options than she realizes.
Exploring Tina’s Options
Once we know Tina’s numbers, we can start exploring what’s possible. And this is where the real clarity kicks in. With the math laid out, she can make decisions based on intention rather than fear—retire earlier, spend more, or simply design the lifestyle that feels right.
Could She Retire Earlier?
Yes. Even if she stopped working today and kept her spending target at $6,000 per month, her probability of long-term success remains high. Whether she should is a separate question—one based on lifestyle, not just math—but the option exists.
Could She Spend More?
Also yes. When she adds an extra $20,000 per year for travel, her plan remains highly viable.
Could She Share Experiences With Others?
If Tina wants to fund trips not just for herself but for close friends—creating memories along the way—her plan still supports that, within reasonable parameters.
Does She Need to Leave $11 Million Behind?
If Tina maintains her original spending assumptions, projections show her portfolio potentially growing to around $11 million by the end of her plan horizon.
That’s not necessarily a goal she stated. It’s simply a consequence of underspending relative to her resources. Understanding this gives her permission to consider more generous, fulfilling possibilities.
Bringing It All Together
Here’s the framework Tina followed—the same one you can apply:
- Know your freedom number: Define what your ideal life costs—not what you think you “should” spend.
- Map your reliable income: Understand your Social Security benefits and any other fixed income sources.
- Calculate the gap: Your portfolio exists to fill this difference. The key question is whether your withdrawal rate falls within a historically sustainable range. While no projection can guarantee outcomes, understanding the range of possibilities helps you make informed choices.
When you follow this sequence, you gain clarity. You know whether you can retire earlier. Whether you can spend more. Whether you can travel differently, give more generously, or simply live more fully.
The rules for singles aren’t the same as the rules for married couples. But with the right structure, you can build a plan that reflects who you are and the life you want—confidently and intentionally.
The information presented is for educational and informational purposes only and should not be construed as personalized investment or financial advice. The content discusses general retirement planning strategies and is not intended to recommend any specific course of action for any individual.
Social Security claiming strategies involve a number of variables, including life expectancy, portfolio returns, tax considerations, and personal circumstances. Decisions regarding Social Security benefits should be made in consultation with your financial advisor, taking into account your full financial picture.
Examples provided are hypothetical and for illustrative purposes only. They do not reflect any specific client situation and should not be relied upon for investment decision-making. Past performance of investments is not indicative of future results. All investing involves risk, including the potential loss of principal.
Root Financial Partners, LLC provides tax planning as part of its financial planning services. However, we do not provide tax preparation services, represent clients before the IRS, or offer legal advice.
Clients should consult their CPA or attorney before implementing any tax or legal strategies discussed. Nothing in this video should be interpreted as a recommendation to take a specific tax position or legal action.
This content may include discussions around advanced financial planning strategies such as Roth conversions, backdoor Roth IRAs, tax loss harvesting, charitable giving, estate planning tactics, or Social Security claiming strategies. These concepts are general in nature and are not personalized advice. Actions related to these strategies may trigger tax consequences or legal implications. Always consult with your CPA or attorney to assess suitability based on your personal financial circumstances.
Suitability for these strategies depends on your individual tax situation, income, age, investment profile, estate plan, and other factors. Actions related to these strategies may trigger tax consequences or legal implications. Always consult with your CPA or attorney to assess suitability based on your personal financial circumstances.