{"id":22475,"date":"2024-09-13T18:27:30","date_gmt":"2024-09-13T18:27:30","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2024\/09\/13\/younger-americans-are-choosing-financial-security-over-parenthood-survey\/"},"modified":"2024-09-13T18:27:30","modified_gmt":"2024-09-13T18:27:30","slug":"younger-americans-are-choosing-financial-security-over-parenthood-survey","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/09\/13\/younger-americans-are-choosing-financial-security-over-parenthood-survey\/","title":{"rendered":"Younger Americans Are Choosing Financial Security Over Parenthood: Survey"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/904552136\/0\/thinkadvisor.jpg\"><img decoding=\"async\" src=\"https:\/\/feeds.feedblitz.com\/-\/904552136\/0\/thinkadvisor.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2021\/03\/Stressed_Mom_Working_Home_Children_Adobe_640x640.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<div class=\"the-advisor bullet-summary\">\n<h3>What You Need to Know<\/h3>\n<ul>\n<li>About a quarter of millennials and Generation Z without children do not plan to become parents, a MassMutual survey found. <\/li>\n<li>Financial factors are the biggest driver of this decision, according to the survey.<\/li>\n<li>More than half of parents of kids under 18 said they worried about having enough money to support their family.<\/li>\n<\/ul>\n<\/div>\n<p id=\"first-para\"><span>Few would disagree that starting a family puts a financial strain on new parents. Today, many younger Americans are taking that to heart and opting to continue their childfree lives, according to MassMutual\u2019s latest <\/span><a href=\"https:\/\/www.massmutual.com\/global\/media\/shared\/doc\/q3_2024_massmutual_consumer_index.pdf\"><span>Consumer Spending &amp; Saving Index<\/span><\/a><span>.<\/span><\/p>\n<p><span>MasMutual\u2019s third-quarter survey found that 23% of millennials and Generation Z without children do not plan to become parents. The most common motivations for remaining childfree are a preference for the financial freedom that comes from not having children and the inability to afford children.<\/span><\/p>\n<p><span>Thirty-one percent of both generations say they do not plan to become a parent because of the social and political world their children would inherit.<\/span><\/p>\n<p><span>\u201cWith today\u2019s financial stressors, it is understandable why there is a growing trend among young adults to prioritize financial security over parenthood,\u201d <\/span><a href=\"https:\/\/www.linkedin.com\/in\/paullapiana\"><span>Paul LaPiana<\/span><\/a><span>, MassMutual\u2019s head of brand, product and affiliated distribution, said in a statement. \u201cThis shift reflects a broader understanding of the importance of financial stability and independence in achieving long-term goals that every generation must reckon with.\u201d&nbsp;<\/span><\/p>\n<p><span>PSB Insights conducted the online study in July among a nationally representative sample of 1,000 U.S. adults. Within the same timeframe, the firm polled an additional sample of 500 adult Massachusetts residents.&nbsp;<\/span><\/p>\n<h2>Other Index Results<\/h2>\n<p><span>The research found that 73% of respondents with chidren under 18 took steps to financially prepare for parenthood, most commonly by increasing savings. Still, 51% worry that they will not have enough money to support their family. They report that food and clothing are their biggest child-related expenses.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What You Need to Know About a quarter of millennials and Generation Z without children do not plan to become parents, a MassMutual survey found. Financial factors are the biggest driver of this decision,&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":22476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/09\/younger-americans-are-choosing-financial-security-over-parenthood-survey.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22475"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22475"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22475\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/22476"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}