Women, Contracting, and the Unspoken Question: What’s Your Retirement Plan?

A few weeks ago, I had an encounter that shook me to my core.

I met a 79 year old man in his home. Alone. Waiting for someone to bring him groceries and help with his daily needs. His children, once living in the same city, are now far away, wrapped up in their own lives. They visit only for his medical appointments or when absolutely necessary.

Once, he was a respected, high ranking professional, surrounded by people and work. Today, the television is his only companion, the one that speaks without judgment. His neighbour checks in occasionally, helps him shop, and uses his car in exchange for errands. His life runs on pension money, and on the thin thread of human contact that still remains.

And as he put it himself, he is “waiting to die”.

I was in tears.

Because I realised something: this could be any of us.

Have We Thought About This as Women?

Whether you are single or a mother, a freelancer or a full time contractor, have you ever truly imagined your later years?

What happens when the children grow up and move on? When friends relocate? When work, once your daily fuel, is gone? Will you end up in a retirement home? Alone in a flat, with only a TV for company?

We rarely ask ourselves these questions. Especially when life feels busy and retirement seems far away. But as women, especially independent contractors with no corporate pension schemes, we must.

The Harsh Reality for Women Contractors

Unlike salaried employees, we do not always have:

• Employer pension contributions
• Retirement health coverage
• A built-in financial safety net

This means retirement planning is entirely in our hands. Without a strategy, we risk facing financial instability, social isolation, and emotional loneliness.

A Gentle but Urgent Guideline for Independent Women

1. Build a Financial Cushion Now

• Set aside at least 10 to 15% of your income in a retirement savings account.
• If your country offers private pension plans, explore them early.
• Invest in low risk, long term instruments like index funds or fixed deposits.

2. Plan for Housing Security

• Owning a small, manageable property can be a life-saver.
• Consider co-housing models, shared spaces with other like-minded women for later years.

3. Nurture Social Connections

• Friendships are as vital as finances. Keep building communities beyond work.
• Join hobby groups, volunteer, or mentor others, stay visible, stay involved.

4. Create a Care Plan

• Think ahead about healthcare, mobility aids, and support networks.
• Explore health insurance that covers age related needs.

5. Have Honest Family Conversations

• It is not about guilt tripping children, it is about clarity.
• Share your wishes for care, visits, and future living arrangements.

Your Future Is a Project, Start Building It Now

Seeing that elderly man was not just a heartbreaking moment for me, it was a wake-up call. Retirement is not only about money, it is about dignity, purpose, and connection.

Ladies, we work so hard to establish ourselves, run our businesses, and provide for others. But let us also work just as hard to create a future where we will not feel abandoned or invisible.

This plan also goes to me. I am not writing this from a place of having it all figured out, far from it. I am writing it as a reminder to myself to prepare, to plan, and to protect my future self from a loneliness I hope never to face.

Because if we do not plan, we risk living in a version of old age we never imagined and certainly never wanted.