She’s single and worried she won’t have enough money to retire. Here’s what she needs to do to secure her future

Monday, 5 January 2026

Retirement questions Answered: from time to time, we will pick a question sent in by a reader and offer a response from contributor Gill South. You can read more here and submit questions below.

Single and happy, but still worried

It can suck to be a woman when it comes to financial security, particularly if you’re on your own. That said, it’s better to be single and happy than miserable with an average partner.

In terms of retirement readiness, women are disproportionately worse off than men, thanks to more of them working part-time, gender bias and gender pay gaps, according to research from the Retirement Commission.

This all leads to us having less in our KiwiSaver savings (on average 25% less than men), and this is compounded by the longer life expectancy we have.

No doubt aware of these statistics, one of our readers, Di*, is keen to know what she can do about it and asked us: What tips would you have for single people planning for retirement? A lot of the discourse around this topic focuses on couples. As a single woman, what additional considerations should I factor in when planning for retirement? Are we similarly vulnerable as soon-to-be retirees because we don't have the benefit of combining our retirement savings with a spouse? If we have to save it all on our own, should we be allocating more to retirement compared to a couple, for example by having a higher voluntary KiwiSaver rate?

The Kiwisaver conundrum

I put these questions to AdviceFirst financial adviser Emily Owens.

Should singles be allocating a greater percentage of income to retirement savings than a couple? Yes, says Owens, especially because singles need stronger financial buffers, and then you will have more choices in retirement. But there’s more to consider than just saving more, she says.

Although everyone’s individual situation is complex and unique, Owens has three main points for Di to consider.

Firstly, know your numbers: work out how far you are off your goal and work out a plan to close the gap.

“Most New Zealanders, let’s face it, need to save hard over their working life to enjoy the retirement they want, so if they can work out how far off they are, their goal, and make a plan to close the gap, then when they’ve got time on their side, that’s ideal,” she says.

Secondly, know what you currently have, says Owens. Have a list of your assets, insurance policies, fixed expenses, and debt, then create a budget and really try and stick to it.

The risk of renting

Owens finds housing security to be the biggest swing factor. Renters may need several hundred thousand more in savings than homeowners at retirement. Homeowners who have paid off their mortgage have the choice to downsize their home which frees up additional cash flow for retirement needs.

It may be that you choose to live with extended family or a friend in retirement and split living costs, says Owens. And I would argue women are more likely and better at doing this kind of thing.

Sharing with friends in retirement can make it more affordable, though the trade-off is you’ll have less privacy, space and independence, says Owens.

Get your timing right

Thirdly, know your timeline. In other words, work out how far away your goal could be.

Realistic, personalised planning beats one-size-fits-all advice, says Owens, although there are some digital online tools that can partially help “DIY types” – so, for instance, Sorted.co.nz has options including a retirement calculator which is very useful.

When Owens goes through these points with clients, she’ll check if their lifestyle is realistic, or do they need a bit of a reality check and to reassess what their situation may look like.

Working longer often positively contributes to your retirement years if it’s possible for you to work longer, she says.

Those blessed with good health and circumstances can go a long way to boosting that nest egg to last through retirement, she adds.

Beware the perils of love

The financial adviser also stresses the importance of women having stability in all parts of their life as they head towards retirement.

“Be wary about entering any new relationship with rose-tinted glasses,” she warns. Protect your assets and your savings above all, she adds. A relationship that goes on for three years or longer can halve your assets in almost one easy step, says the financial adviser.

To answer Di, I also checked in with a single friend of mine who is living her best life in retirement after an impressive career as a people leader.

I’ll call her Sophie – I asked her for her thoughts on the approach to retirement as a single woman.

The biggest issue, she says, is to ensure you are mortgage free, and by downsizing, she achieved that.

Having minimal KiwiSaver, she had an investment property which she sold and put into an income-producing managed fund and that is now supplementing her pension.

“I think women should work for as long as they can- taking into consideration their energy and health, “ says Sophie.

As well as downsizing her home in the lead up to retiring, she says she also downsized from a big role to a smaller organisation, which reduced the stress and energy. She also cut down her hours from 40 to 30, so she could take long weekends.

*Disclaimer: The information in this article is of a general nature and is not intended to be personalised financial advice. The names of the individuals in this story have been changed to protect their privacy.

If you have a question you’d like answered, drop it in the document below. The more detail you provide (please don’t include personal banking information), the more likely it is that we’ll look into answering it.

Gill South is a freelance business writer who has authored a book on personal finance and written for many major publications in New Zealand.