Retirement for One, Please: Beating the Dual-Income Advantage
As a single woman, planning for retirement sometimes feels like showing up to a three-legged race... with one leg. I’ll look around and see couples sprinting ahead, fueled by two incomes, shared expenses, and a built-in partner to split Costco-sized tubs of peanut butter. Meanwhile, I’m out here balancing it all—career, mortgage, investments, and the eternal debate about whether I really need that extra streaming service (spoiler: probably not).
It’s easy to feel like the odds are stacked against us when it comes to retirement planning. After all, two incomes can cover more ground faster, right? But here’s the secret they don’t tell you: being financially solo also comes with some major perks. No compromises on how I spend my money, no financial baggage from someone else’s bad credit decisions, and no debates over whether to invest in stocks or yet another set of golf clubs. I call the shots—100%. And honestly? That’s powerful.
The Truth About the “Dual-Income Advantage”
Sure, couples may have two paychecks, but they also have double the expenses—two cars, two sets of student loans, and in many cases, twice the stress when financial values don’t align. Plus, let’s not forget that just because someone is part of a couple doesn’t mean they’re actually saving efficiently. Many people assume their partner will handle the finances, and that can backfire big time.
On the other hand, I’ve learned that single women tend to be more intentional with their money. I’m already making big financial decisions on my own, which means I’m less likely to fall into the “oh, I thought you were handling that” trap that trips up many couples.
How We Compete (and Win!) as Financially Independent Women
So, how do we ensure a financially secure, stress-free retirement when it feels like the world rewards the double-income lifestyle? We get strategic:
Max Out Retirement Accounts – Without a second income, our savings have to work harder. Maxing out our 401(k), IRA, or other retirement vehicles helps us take full advantage of compounding interest (aka, free money over time).
Get Smart About Investing – We don’t need a partner to invest well. A diversified portfolio, including stocks, bonds, and real estate, helps us build wealth efficiently. And I’ve realized that avoiding investing out of fear is the real risk.
Eliminate Debt Quickly – Without a second income, we can’t afford unnecessary interest payments dragging us down. High-interest debt (like credit cards) gets kicked to the curb ASAP.
Create Multiple Income Streams – Side hustles, rental income, dividends—having more than one source of income gives us financial flexibility and security.
Build a Dream Team of Experts – Who says we have to do it alone? A trusted financial advisor (hi, that’s me!), a tax strategist, and maybe even a career coach help us make savvy money moves.
The Bottom Line
While it might seem like couples have the edge, single women like us have the power of control, clarity, and confidence when it comes to our finances. I’m not waiting on someone else’s salary or financial habits—I’m calling the shots, making informed choices, and building a future on my own terms. That’s not just competing. That’s winning.
So yes, maybe couples get the bulk discount at Sam’s Club. But me? I get financial freedom, independence, and the satisfaction of knowing that every penny in my future was built by me—and that’s pretty priceless.
Need help fine-tuning your financial game plan? Let’s chat. Your future self will thank you.