The stigma of the "childless cat lady" persists, but these days, more young adults are embracing that label and opting out of parenthood — and benefitting, at least monetarily.
Nearly a quarter, or 23%, of millennials and Generation Zers without children do not plan on having children, primarily due to financial reasons, according to a recent consumer spending and saving index by MassMutual.
A preference for financial freedom and the inability to afford children are equally cited by 43% of younger generations, MassMutual found.
Since the 1970s, the overall share of married adults has declined and fewer couples are having children, according to a 2023 report from Pew Research Center.
Although there is a financial benefit, "it's not like you are child-free and checks fall out of the sky," said Jay Zigmont, author of "The Childfree Guide to Life and Money."
Persons:
Taylor Swift, Kamala Harris, MassMutual, Pew, Jay Zigmont
Organizations:
Democratic, Finance, Pew Research Center
Locations:
Bath, England, U.S