Parenthood pushes Americans to plan for retirement

Parenthood is expensive, from tuition to medical bills to everything in between. Allianz Life's 2026 Annual Retirement Study finds that parents are the more confident savers. 401(k) Specialist reported the study. The survey, from the Allianz Center for the Future of Retirement, asked American adults whether they expect to hit their retirement savings goal.

Seventy-two percent of parents say they are confident they will hit their retirement savings goal. Childless adults come in at 54%. The same split shows up in planning: 62% of adults without children have no written financial plan. For parents, the number is 42%. Kelly LaVigne, Allianz Life's vice president of consumer insights, calls parenthood the catalyst that forces 'tough conversations about money.' Without it, she says, too many Americans 'may be moving forward without a strategy.'

Parental confidence comes with a caveat: the same pressure that spurs planning also strains budgets. Among parents who admit they aren't saving enough, 29% blame education costs. Another 27% point to childcare.

Childless adults also report more strain. Seventy-one percent worry the rising cost of living will block a comfortable retirement. The parent rate is 64%. Fifty-four percent see housing costs eating into their savings capacity. The parent share is 47%. Sixty-one percent say day-to-day expenses leave no room to think about retirement saving. The parent figure is 53%.

A 401(k) communications calendar built around family milestones will miss the childless participant. Marriage, birth, a first home arrive later, if at all — and their absence becomes the trigger. Segmenting by balance or tenure won't find them; a written-plan question will. Allianz's data turns that absence into a starting point: ask the participant without dependents whether a written plan exists. The survey says the answer will be no for nearly two of three.