I hear this in financial planning conversations with women all the time: “I’ll just work until I’m 65.”
That makes sense. You’ve got a good career, you’re making decent money, and you’ve calculated that another 10 or 15 years of saving should put you in a comfortable position for retirement. Maybe you’ve even decided to work until 67 or 70. You’re healthy, you enjoy what you do, and those extra years of income would certainly make retirement easier.
There’s just one small problem.
Your retirement date isn’t entirely up to you. According to the Employee Benefit Research Institute’s 2026 Retirement Confidence Survey, workers expect to retire at a median age of 65. But among people who are already retired, the median retirement age was just 62.
Your employer might have other ideas. Your industry might change. Your position might be eliminated. Or you might find yourself at 57, staring at a job market that doesn’t seem nearly as impressed with your 30 years of experience as it should be.
And for single women who are counting on their own income to fund their retirement, an unexpected career interruption can have consequences that extend far beyond the next paycheck.
The Job Market Doesn’t Always Appreciate a Woman with Experience
By the time a woman reaches her 50s, she’s probably pretty good at what she does. She’s managed teams, survived economic downturns, adapted to new technology, and developed the kind of judgment that only comes from experience.
You’d think employers would be lining up.
Unfortunately, that’s not always how it works. AARP research found that 64% of workers aged 50 and older have seen or experienced age discrimination in the workplace.
And women may face the additional challenge of age-related gender bias.
A woman who loses her job at 35 might reasonably expect to find another position with comparable compensation. At 58, that transition could take longer, particularly if she’s held a senior position or worked in a specialized industry. She might eventually find another job, but it could come with a smaller salary, fewer benefits, or less responsibility.
The financial risk isn’t necessarily that you’ll never work again. It’s that you may never earn quite as much again.
The Real Cost of Losing Your Job After 50
Let’s say you’re 55, earning $150,000 annually, and planning to retire at 65.
Then your company restructures. You spend nine months looking for work and eventually accept a position paying $110,000. You’re employed again, which is great. But your retirement plan has taken a hit. You’ve lost nine months of income, your salary is now $40,000 lower, and your retirement contributions and employer match may have decreased.
If that salary difference continues for the remaining nine years of your career, that’s approximately $360,000 in lost gross earnings, not including the unemployment period. And some of that money would have gone toward retirement savings.
For single women, the stakes can be particularly high. There’s no second paycheck to cover expenses, no spouse’s health insurance to fall back on, and no partner who can temporarily increase retirement contributions. You’re the entire financial department.
That’s why a late-career job loss isn’t just an employment problem; it’s a retirement planning problem.
Four Financial Planning Moves Worth Making Before Your Career Has Other Plans
Forget the usual advice about updating your résumé and networking. Here are four financial planning decisions that deserve more attention.
1. Don’t Assume You’ll Work Until 65
Ask your financial advisor to model what happens if you retire at 65, lose your job at 58 and return at a lower salary, or stop working entirely at 60. Understanding how each scenario affects your savings, spending, and Social Security decisions can help you prepare before you’re forced to make changes.
2. Know How Much of Your Retirement Depends on Future Earnings
Your 50s and early 60s may be your highest-earning years, but what happens if that income disappears? Ask your advisor to calculate how much of your projected retirement savings comes from money you’ve already accumulated versus contributions you haven’t made yet. The difference shows just how dependent your retirement is on continued employment.
3. Consider a Career-Transition Fund
An emergency fund covers unexpected expenses. A career-transition fund gives you options if your employment situation changes. It could allow you to spend longer searching for the right job, explore consulting, or bridge the gap to retirement. Base the amount on your industry, earning potential, and realistic job-search timeline rather than a generic savings rule.
4. Plan for the Gap Between Employment and Medicare
Losing your job at 61 could mean four years of paying for health insurance before Medicare. Your retirement withdrawals may also affect your taxes and eligibility for Affordable Care Act premium tax credits. Coordinate your healthcare, investment withdrawals, and Social Security strategy so an early career exit doesn’t create unnecessary long-term financial problems.
Your Career Is Part of Your Retirement Plan. It Shouldn’t Be the Entire Plan.
We tend to think of retirement as something we choose when we’re financially ready. But the Federal Reserve found that health issues, caregiving responsibilities, or a lack of work influenced retirement timing for 42% of retirees. Sometimes your career ends because of circumstances that have absolutely nothing to do with your retirement account balance.
Remember, the real goal isn’t necessarily to work until 65. It’s to make sure you have options if you don’t.
As a Denver financial planner who works with single women, I can help you build a retirement strategy that accounts for your career, your independence, and the possibility that life may have a few surprises left.
CLICK HERE to start the conversation.
