The Impact of Raising Children on Retirement Security


The brief’s key findings are:

  • The cost of raising children could make it harder for parents to save for retirement.
  • On the other hand, if parents offset child-rearing expenses by spending less on themselves, they could still end up well prepared in retirement.
  • The analysis uses the National Retirement Risk Index to look at what impact children actually have on retirement preparedness.
  • The results show that children reduce household wealth and moderately increase the likelihood of retirement risk for older working households.

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