Child-free adults are less confident about retirement, Allianz finds

Child-free adults are less confident about retirement than parents. In Allianz Life's 2026 Annual Retirement Study, only 52% of child-free respondents say they feel confident. Among parents, the share is 72%. The 20-point gap undercuts a common adviser shortcut: that households without children are a lighter planning lift because they skip child-related costs.

Confidence is not the only gap. Sixty-two percent of child-free adults have no written financial plan. By comparison, 42% of parents are in that position. These clients are worrying more and documenting less.

The survey data point to specific worries. Among child-free respondents, 71% cite rising living costs. Day-to-day expenses come next, at 61%. Housing costs follow at 54%. Long-term care stands out: 66% of child-free adults fear they will not be able to afford it. Among parents, 60% say the same. Parents' own worries run close behind: 64% cite rising living costs. Day-to-day expenses are at 53%. Housing costs are at 47%. That pattern suggests child-free adults do not have lower expenses so much as a thinner safety net. Kelly LaVigne, Allianz's vice president of consumer insights, says child-free adults may lack the family support parents might expect later in life.

The lesson for advisers is to stop treating child-free clients as a no-dependents afterthought. The planning discussion should start with long-term care — how it gets funded, who coordinates it — then move to a written plan, which most of these clients don't have, according to the survey. Intake forms capture dependents; they don't capture a client's support network. A client who says 'no kids, fewer costs' may be carrying a risk profile the intake form never sees.

The Allianz study arrives in a fragile savings environment. Alight's 2026 Employee Mindset Study puts retirement plan participation at 61%. In 2021, it was 73%. The same study finds 41% of workers saying they are just getting by. For advisers, the child-free confidence gap is a reminder to test assumptions about household finances in every client review.