‘It all falls on me’: At 65 and single, what aging alone really costs seniors in Canada, and how to plan for it — before a crisis

“It all falls on me,” said Amy Kant, 65, who spoke to The Wall Street Journal about the reality of navigating medical procedures, estate planning and downsizing her home as a single woman.

Her experience resonates with a growing number of Canadians. According to Statistics Canada, 4.4 million people lived alone in 2021, up over 38% since 1981 — that’s 15% of all adults, the highest number ever recorded. Among those aged 85 and older, nearly half (42%) live solo.

The challenge isn’t only emotional. Solo agers face real financial and logistical pressures: who will manage your finances if you can’t? Who will make medical decisions? What happens to your home, your savings, your estate? These aren’t abstract questions: They all require concrete planning, and the earlier, the better.

Here’s where to start.

Hire financial professionals to do the heavy lifting

You may have limited personal support as you age alone, but you can build a team of experts to provide a professional alternative.

If you don’t already have a financial adviser, consider hiring one experienced in working with seniors. Look for someone who holds the Certified Financial Planner (CFP) designation — Canada’s national standard for financial planning professionals. They can review your full financial picture: your Registered Retirement Savings Plan (RRSP) and Tax-Free Savings Account (TFSA) balances, your Canada Pension Plan (CPP) and Old Age Security (OAS) entitlements, and any pension income — and help you map a withdrawal strategy that reduces tax and keeps your income stable.

Many solo agers may not realize that, even with both CPP and OAS maximized, the combined income only totals roughly $26,999 each year — well short of what most Canadians need to maintain their pre-retirement lifestyle. A financial adviser can help bridge that gap with your savings, and flag risks like the OAS clawback (which kicks in for net income above $93,454 for 2026 to 2027) or mandatory Registered Retirement Income Fund (RRIF) withdrawals that could push your taxable income higher than expected.

An estate lawyer (or notary in Québec) will help you set up a comprehensive estate plan: drafting a will, naming beneficiaries and establishing a Power of Attorney (POA). In Canada, a POA is a legal document that allows a trusted person to make financial or personal care decisions on your behalf if you become incapacitated. Without one, a loved one may have to apply to the court to be appointed your legal decision-maker — a process that can be stressful, expensive and delay important decisions.

The upfront cost of working with these professionals is something to consider. Fee-only financial advisers in Canada typically charge $150 to $400 an hour for one-time advice, or $3,000 to $10,000 or more for a comprehensive financial plan. That may feel steep, but the cost of not planning — paying unnecessary taxes, making avoidable CPP/OAS timing mistakes or dying without a will — is almost always higher.

Ask people in your personal network for recommendations, or search the FP Canada adviser directory to find a certified planner near you.

To get started, open a no-fee RRSP high-interest savings account with EQ Bank. For a limited time, get up to $200 cash when you add new deposits to your EQ Bank RRSP account.

Decide where you want to live in your sunset years

One of Kant’s main concerns is changing her living situation. She currently lives in a condo with stairs — an arrangement that becomes increasingly impractical if you face surgery or illness, common obstacles when people age.

In Canada, you have a range of options when it comes to where you live in retirement. According to the Canadian Institute for Health Information, 91% of older adults prefer to age at home rather than move to an institution. For many solo retirees, aging in place is the goal — but it requires planning.

Age in place (with modifications)

Downsizing to a smaller, single-storey home with fewer stairs and less maintenance is one of the most popular options. Accessibility modifications — such as grab bars, walk-in showers and ramp access — can extend the time you can safely live at home.

Retirement homes (independent living)

These communities provide a social setting with optional services, without the full medical support of a care facility. Monthly fees for elder care in Canada range from approximately $1,500 to $3,400 for subsidized homes, and up to $6,000 for a private facility. Ontario tends to be on the higher end ($2,085 – $2,979 monthly), while other provinces offer more cost-effective options.

Assisted living

Assisted living facilities offer personal support services for seniors who need help with daily activities but don’t require full nursing care. Costs vary widely by province and level of care.

Long-term care (LTC) homes

For seniors with more complex medical needs, LTC homes provide around-the-clock nursing and personal support. These are provincially regulated and partially funded. For example, in Ontario, the basic co-payment rate for a publicly funded LTC bed was $66.95 a day ($2,036.40 a month) as of July 1, 2024. Private LTC facilities can cost $6,000 to $15,000 every month. Prices vary widely depending on the level of care and the province or territory.

The key for solo agers is to explore options early — before a health crisis forces the decision. Waiting lists for publicly funded LTC homes can be long, and the best retirement communities fill up quickly.

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Build a medical care strategy before the last minute

The time to find a trusted medical team isn’t during an emergency. For solo agers, having reliable healthcare support in place is especially important — there may be no family member available to step in, interpret medical information or advocate on your behalf.

Canada’s publicly funded healthcare system covers most medically necessary services, but coverage has limits. Vision care, prescription drugs and home care aren’t universally covered, and availability varies widely by province.

For home-based support, most provinces offer publicly funded home care assessed on need. In Ontario, Ontario Health atHome (formerly Home and Community Care Support Services) connects eligible residents with nursing, personal support and therapy services. All other provinces and territories offer similar programs through regional health authorities, under the Canada Health Act.

For those who need more support than the public system provides, private home care services are available at rates typically ranging from $25 to $75 an hour, depending on the type of care and region. These services can include everything from meal preparation, transportation to post-surgical support and medication management — a lifeline for solo agers who no longer drive or who are recovering from illness.

If you’re unsure where to start, ask your family physician for a referral to a geriatric care manager or a local home care agency. Some provinces also offer publicly funded programs to help seniors navigate the system.

What Canadian single seniors can do right now

Planning for aging alone doesn’t have to happen all at once. But the earlier you start, the more options you’ll have — and the less it will cost you in the long run. Here are five concrete steps to consider:

1. Get your legal documents in order. Draft a will and set up a Power of Attorney (POA) — one for property and finances, and one for personal care. Without a POA, no one, including a spouse or adult child, can automatically step in to manage your affairs if you become incapacitated. A lawyer or notary can prepare these documents, and some provinces offer low-cost legal clinics for seniors.