Are you part of the growing trend of young adults opting out of parenthood for financial reasons? You’re not alone! According to a recent study by MassMutual, nearly a quarter of millennials and Gen Zers without children do not plan on having children primarily due to financial reasons.
This shift in attitudes towards marriage and parenthood is reflected in the declining fertility rate and overall share of married adults in the U.S. In fact, a Pew Research Center study found that adults without children, both married and unmarried, have higher median wealth and retirement savings than their peers with kids.
At Extreme Investor Network, we understand the unique financial considerations of SINKs (single income, no kids), DINKs (dual income, no kids), and DINKYs (dual income, no kids yet). Our founder, Jay Zigmont, a certified financial planner, specializes in helping child-free couples navigate estate planning, long-term care, and building a cash cushion tailored to their goals.
We believe that being child-free doesn’t mean checks fall out of the sky, but it does present opportunities for pursuing passions and continuing education later in life. Zigmont often advises clients to spend down their savings strategically, considering potential caregiving responsibilities for aging parents or relatives in the future.
Moreover, Parenthood is not just a personal finance issue but also an economic growth and productivity issue, according to Brett House, economics professor at Columbia Business School. As parenthood becomes a key point of contention in the U.S. presidential election, it’s clear that decisions around having children impact not only individuals but also employment, wages, and wealth, making it a crucial issue for policymakers and businesses alike.
So whether you’re a SINK, DINK, or DINKY, Extreme Investor Network is here to provide personalized financial planning and guidance tailored to your unique lifestyle and goals. Subscribe to our newsletter for more insights and tips on navigating the world of personal finance as a child-free individual.