Northwestern Mutual data shows 10% of young adults delay childbearing over cost fears

Approximately 10% of Generation Z and Millennial adults report delaying the decision to have children due to concerns about long-term financial stability, according to new research from Northwestern Mutual.

Kate Michaels, a managing partner at the firm, stated that financial pressures are pushing family planning timelines later while biological fertility clocks continue to tick. She noted that if couples encounter infertility, the prospect of in vitro fertilization (IVF) often presents both emotional and monetary challenges.

Michaels emphasized that budgeting for IVF extends beyond the cost of a single procedure. Couples must account for preliminary steps such as monitoring appointments and medical examinations before reaching the primary treatment costs. She advised that individuals consider the potential need for fertility treatments when entering romantic relationships.

"It’s not like you can only plan for an IVF cycle. There may be monitoring appointments and medical exams that you need to account for before you even get to this bigger cost that you might be incurring," Michaels said.

Financial advisors can assist couples in preparing for these expenses without requiring a confirmed diagnosis of infertility. An early conversation allows individuals to estimate a range of potential costs and determine how much to set aside as a contingency fund.

Michaels recommended that couples review their insurance coverage as soon as possible to identify what is and is not covered. This step helps clarify where out-of-pocket expenses, such as travel or additional procedures, may arise. She argued that reducing financial anxiety supports the emotional and physical demands of the treatment process.