“All the lonely people – where do they all come from?” So sang the Beatles way back when, in their hit song, “Eleanor Rigby.”

That was almost six decades ago. Today, if we look around at our hyper-connected world, we’re left with an ironic observation: the average person today is lonelier than was the case when the Beatles’ “Revolver” album hit the record stores back in 1966. What’s more, as a growing body of evidence demonstrates, loneliness and isolation among older adults in the U.S. have reached alarming levels, and are getting worse.

Until now it has been easy to conclude that, while loneliness is an emotional problem, it doesn’t come with an actual, measurable cost. But a growing body of data suggests that there is definitely a financial cost to loneliness, and it affects all of us. That’s the conclusion we drew from this recent article we discovered from Kiplinger. In his analysis, reporter Jacob Schroeder shows how the rising cost of isolation can devastate our retirement plans, aggravate poor health, shorten our lives, and cause medical expenses to skyrocket.

“The cost of loneliness is rising as an equal threat to a happy, healthy retirement,” the Kiplinger article states. “But there are steps you can take now to build your social capital.” Let’s look more closely.

Rising Levels of Isolation Represent a Serious Health Epidemic

According to former U.S. Surgeon General Dr. Vivek Murthy, Schroeder tells us, loneliness and social isolation are a serious health epidemic, and older adults are at an increased risk. This greater risk is because that specific population has a higher likelihood of living alone, losing their social circle to death or distance, or dealing with isolating illnesses.

Schroeder writes, “The numbers are alarming; more than one-third of older adults experience feelings of loneliness at least once a week, according to the University of Michigan’s National Poll on Healthy Aging. It’s tempting to attribute this rise to recent events like social media or the pandemic, but the truth is that loneliness has been on an upward trajectory for the past two decades.”

Experts agree that this trend emphasizes the need to acknowledge and address loneliness as a serious threat to our wellbeing, especially as we get older. “Thus, alongside our financial assets, nurturing and sustaining social connections should receive equal focus in retirement planning,” Schroeder writes.

Our Social Connections Peak at Age 40

According to research indicated by Our World in Data, around age 40 is when we reach the “peak” in the variety of our social connections; after that, we shift toward spending more time on our own.  

As any introvert can attest, being alone doesn’t always equate to loneliness. But Schroeder notes that the overall picture of this age-related statistic reveals diminishing social networks. He writes, “In 2024, an astonishing 17 percent of Americans said they have zero friends, up from 1 percent in 1990, according to the Survey Center on American Life.”

Loneliness Can Have a “Life-Threatening Impact”

The stakes are higher than you might think. Schroeder warns us that the impact of social isolation can be potentially life-threatening. He writes, “Loneliness is linked to a slew of health issues, including heart disease, stroke, type 2 diabetes, depression, anxiety, addiction, dementia, and even premature death, according to the Centers for Disease Control and Prevention (CDC).”

To illustrate, he adds that the health risk of social isolation has been equated to smoking 15 cigarettes a day. “Considering these findings, it’s clear that letting our social networks go up in smoke is a health risk we can’t afford,” he writes.

Loneliness Comes with Corrosive Financial Consequences

Aside from the danger to health and longevity, there’s a financial consequence to loneliness, too, and Schroeder tells us that this financial downside adds another layer of urgency.

“Research, like a study from the Keck School of Medicine of USC published in Aging & Mental Health, reveals that Americans over 50 who feel lonely or dissatisfied with their personal relationships are more susceptible to financial scams,” he explains. “Isolation limits their opportunities to discuss financial issues with others, making them prime targets for scammers pretending to offer emotional support while exploiting them financially.”

Loneliness Often Linked to Excessive Healthcare Spending

In addition, chronic illnesses caused or exacerbated by social isolation can be expensive to treat and manage, adding to medical debt and stress levels; these are especially damaging to those with no social safety net. Schroeder writes, “A found that social isolation is associated with an estimated $6.7 billion in additional federal Medicare spending annually.”

The International Journal of Public Health concluded in a 2021 study that loneliness increases health care costs for many types of medical care, regardless of age, income, or lifestyle.

“Essentially, a social support network is as vital to the quality of life in later years as any financial asset, highlighting the dual importance of nurturing both financial and social health,” Schroeder writes.

Overcoming Loneliness by Nurturing Positive Relationships

So, how do we solve the problem of loneliness? According to Schroeder, it’s very simple: “The solution is friendship,” he writes. “Simply put, nurturing good relationships keeps us healthier and happier.”

The CDC agrees, suggesting that the best way to combat loneliness is to spend time with loved ones, to join clubs or other groups, enjoy the outdoors with other people, express gratitude in a way that feels right to you, and even volunteering for causes you care about.

Author and Harvard lecturer Dr. Jeremy Nobel also praises the power of connection in various forms, whether it’s a “chat in the grocery store line” or “engaging in creative activities.” Both art and physical exercise both reduce stress and boost “feel-good” hormones that enhance your emotional wellbeing in ways that are sustainable.

While it’s understandable that social isolation can be a bit of a self-sustaining cycle—it’s difficult to want to reach out when you’re already feeling alone—Schroeder says that success in overcoming loneliness lies in proactive steps. “Each day, do something that connects you with others or the wider world,” he writes.

Can Technological Solutions Help Overcome Isolation?

It’s no secret that technology, especially social media, helps us to feel connected across distance in ways that have never been possible in human history. It’s also no secret that technology can be a double-edged sword, keeping us isolated by holding our attention instead of driving us to seek interaction from other people in non-digital life.

Schroeder says that technology can be used to foster meaningful connections when used intentionally. He explains, “Research suggests that technology-based interventions can improve social connectedness in older adults. Video calls, messaging apps and online communities allow retirees to stay in touch, seek support and maintain meaningful relationships, even across long distances.”

He notes that these tools are most effective when used to strengthen existing relationships (reconnecting with old friends, for example) but can also help expand social networks. “By thoughtfully embracing technology, retirees can turn it into a bridge rather than a barrier, ensuring that distance or life changes don’t lead to isolation,” he adds.

For best results, Schroeder suggests asking someone you trust for help if you’re new to social media, explaining, “These apps are rife with scams targeting older adults and others may foment distrust or discord. So, use them with care.”

Just as Loneliness Starts Early, So Does Friendship

Schroeder tells us that the key to combating loneliness is to start early, “much like the approach to saving and investing.”

Loneliness is a deeply pervasive problem, common across generations. A 2024 Harvard and Making Caring Common report found that one in every three young adults (ages 18 to 25) feels lonely. “And among that 34 percent, more than half reported lacking a sense of meaning or purpose,” Schroeder writes. “This highlights the prevalence of loneliness and the importance of addressing it from a young age.”

Schroeder concludes that the earlier you learn to build intentional connections, the more robust these bonds will become over time—much like financial investments with compound interest. Moreover, while we fully agree with his conclusion, we would like to add the notion that it’s never too late to take that step, seize the initiative, introduce yourself to someone new, and reach out for connection.

Friendship takes a bit of effort, but it’s always worth a try. And it could just save your life, too.  

Rajiv Nagaich – Your Retirement Planning Coach and Guide

The long-awaited book by Rajiv Nagaich, called Your Retirement: Dream or Disaster, has been released and is now available to the public. Retirement: Dream or Disaster joins Rajiv’s ground-breaking DVD series and workbook, Master Your Future, as a powerful planning tool in your retirement toolbox. As a friend of AgingOptions, we know you’ll want to get your copy and spread the word.

You’ve heard Rajiv say it repeatedly: 70 percent of retirement plans will fail. If you know someone whose retirement turned into a nightmare when they were forced into a nursing home, went broke paying for care, or became a burden to their families – and you want to make sure it doesn’t happen to you – then this book is must-read.

Through stories, examples, and personal insights, Rajiv takes us along on his journey of expanding awareness about a problem that few are willing to talk about, yet it’s one that results in millions of Americans sleepwalking their way into their worst nightmares about aging. Rajiv lays bare the shortcomings of traditional retirement planning advice, exposes the biases many professionals have about what is best for older adults, and much more.

Rajiv then offers a solution: LifePlanning, his groundbreaking approach to retirement planning. Rajiv explains the essential planning steps and, most importantly, how to develop the framework for these elements to work in concert toward your most deeply held retirement goals.

Your retirement can be the exciting and fulfilling life you’ve always wanted it to be. Start by reading and sharing Rajiv’s important message. And remember, Age On, everyone!

(originally reported at www.kiplinger.com)