Childless Americans Have a Retirement Problem
Summary
New research shows that Americans without children are less confident about having enough money for retirement compared to parents. Although parents have high costs raising children, those without kids are more likely to lack a financial plan and worry about daily expenses interrupting their ability to save.Key Facts
- 54% of childless Americans believe they can meet retirement savings goals, while 72% of parents feel confident.
- 62% of people without children do not have a written financial plan, compared to 42% of parents.
- Parents with one or two children are the most confident about retirement at 74%.
- 61% of childless adults say they focus on daily costs instead of saving for retirement, compared to 53% of parents.
- The average cost to raise a child through age 17 is over $310,000 when accounting for inflation.
- Nearly 30% of parents who save less for retirement blame education costs; 27% blame child care costs.
- The average retirement savings balance was about $168,000 in 2025, with median savings much lower at $44,115.
- Census data showed 42% of adults without children had no retirement savings, compared to 36% of those with children.
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