![\"\"](\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/06\/https:\/\/media.zenfs.com\/en\/aol_gobankingrates_57\/30960a23e9854492ac112e98655df70c.jpeg\"\/)
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Retirement advice in America often assumes a familiar path: work hard, raise kids, retire, pass something on. But what if you\u2019re not following that script?<\/p>\n
Find Out: <\/strong>Here\u2019s How Much You Need\u00a0To\u00a0Retire With a $100K Lifestyle<\/strong><\/a><\/p>\n Read Next: <\/strong>10\u00a0Clever Ways Retirees Are Earning Up To $1K per Month\u00a0From\u00a0Home<\/strong><\/a><\/p>\n For a growing number of Americans without children, retirement planning<\/a> can look fundamentally different. Without heirs to support or inherit assets, decisions around spending, estate planning and long-term care have different expectations. Here\u2019s what financial planners said people without kids should do differently<\/a>.<\/p>\n 1. Rethink the Entire Retirement Framework<\/p>\n Standard retirement models are often built around legacy planning and avoiding running out of money<\/a> at all costs. That mindset may not fit those without kids.<\/p>\n \u201cChild-free people tend to follow a FILE (Financial Independence, Live Early) path rather than FIRE,\u201d said Jay Zigmont, CFP and founder of Childfree Trust<\/a>.<\/p>\n If FIRE (Financial Independence, Retire Early) and classical retirement is an \u201con\/off switch for work,\u201d Zigmont said that FILE is more of \u201ca dimmer switch\u201d with the focus being on \u201cdoing the right work, at the right time, across life.\u201d<\/p>\n He added that many child-free people embrace a \u201cdie with zero\u201d approach vs. passing on generational wealth.<\/p>\n Being child-free also changes withdrawal assumptions. General rules like the 4% safe withdrawal rate and Monte Carlo simulations are designed to avoid running out of money. For child-free retirees, Zigmont recommends at least a 5% safe withdrawal rate.<\/p>\n Check Out: <\/strong>Warren Buffett\u2019s Advice\u00a0To\u00a0Prepare for a Recession Is S-Tier<\/strong><\/a><\/p>\n 2. Align Spending With Your Life \u2014 Not a Legacy<\/p>\n Without children, retirees may have more flexibility<\/a> in how and when they spend, but it should match their goals, Zigmont said. For example, renting is often better for child-free people than owning a home because it prioritizes flexibility.<\/p>\n Joseph M. Favorito, CFP and managing partner at Landmark Wealth Management, LLC<\/a>, said that when legacy planning is not the focus, \u201cyou can potentially spend more if you have the assets to do so.\u201d Still, he cautioned that there are \u201cconstraints on the amount of permissible spending annually as a percentage of your liquidity.\u201d<\/p>\n One of the things you do need to set money aside for is money for caregivers, according to Pamela Garrett, an estate attorney and owner of Law Mother Asset Protection & Estate Planning<\/a>, \u201csince you won\u2019t have adult kids to step in as caregivers and helpers.\u201d<\/p>\n 3. Assign Someone To Make Decisions for You<\/p>\n Ironically, having no heirs can make estate planning<\/a> more urgent, not less, Zigmont said.<\/p>\n His company recently surveyed 600 people without kids about estate planning and long-term care plans. The study found that only 19.9% of child-free people have a will in place, and only 14.6% have long-term care insurance, he said. Without next-of-kin, retirees need to designate a guardian or conservator to make decisions for you when you can\u2019t.<\/p>\n Without children, at least create a beneficiary list to minimize the work to settle an estate for whomever is responsible, Favorito added.<\/p>\n 4. Build a Long-Term Care Plan Early<\/p>\n The most common question child-free adults hear is about who will care for them later, Zigmont said. He encourages clients to put a long-term care plan in place by their mid-40s, including \u201cboth how to pay for it and an estate plan that outlines who makes decisions for you when you can\u2019t.\u201d<\/p>\n \u201cAssume this type of care will be needed, not if,\u201d Garrett added. \u201cYou need a coordinated plan.\u201d<\/p>\n 5. Focus On Tax Efficiency During Life<\/p>\n Without a next generation in mind, tax planning shifts toward maximizing what you use, not what you leave.<\/p>\n Garrett recommended prioritizing tax efficiency<\/a> during your lifetime. This could look like Roth conversions or charitable deductions and timing your withdrawals.<\/p>\n \u201cYour goal is to shift what is usable in life, not what is left.\u201d<\/p>\n 6. Don\u2019t Assume Planning Is Simpler<\/p>\n While life may be a bit simpler without children, retirement planning is not necessarily, Zigmont explained. Traditional advice assumes, \u201cGetting married, having kids, working 25 years, retiring and passing on wealth.\u201d If a planner says a child-free plan isn\u2019t different, Zigmont advised finding one who understands that it is.<\/p>\n Retirement planning is still goal-based planning.<\/p>\n \u201cEveryone has a different set of goals with or without children,\u201d Favorito said. The key is ensuring your plan reflects your particular path.<\/p>\n More From GOBankingRates<\/strong><\/p>\n This article originally appeared on GOBankingRates.com<\/a>: 6 Things To Do Differently When Planning for Retirement If You Don\u2019t Have Kids<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"AsiaVision \/ iStock\/Getty Images Retirement advice in America often assumes a familiar path: work hard, raise kids, retire,…\n","protected":false},"author":3,"featured_media":838888,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[15],"tags":[64,649,135780,343711,343712,255,700,708,67,132,68],"class_list":["post-838887","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-estate-planning","tag-financial-independence","tag-jay-zigmont","tag-pamela-garrett","tag-personal-finance","tag-retirement","tag-retirement-planning","tag-united-states","tag-unitedstates","tag-us"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116680019223431408","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/838887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=838887"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/838887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/838888"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=838887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=838887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=838887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}