Young Adults Delay Parenthood Over IVF Costs

One in ten young adults in the United States is delaying the decision to have children due to financial concerns.

New research from Northwestern Mutual reveals that approximately 10% of Generation Z and Millennials are putting off parenthood. The primary driver for this delay is uncertainty about how to afford the process or how starting a family would impact their long-term financial stability. The report connects this hesitation directly to the potential high costs of medical interventions required for conception.

Kate Michaels, a managing partner at Northwestern Mutual, states that financial pressures are forcing couples to push family plans further into the future. This delay occurs while biological factors related to fertility continue to change. Michaels notes that when a couple faces infertility, many consider in vitro fertilization, a process she describes as both emotionally and financially overwhelming for participants.

Planning for fertility treatment involves more than accounting for a single medical procedure. Michaels explains that couples must also budget for monitoring appointments and medical exams that occur before the major costs of the procedure itself are incurred. She advises that couples should consider the potential need for fertility treatments when entering a relationship, rather than waiting until the need arises.

Couples do not need a confirmed diagnosis of infertility to begin financial planning. An early conversation with a financial advisor can help prepare individuals for a wide range of potential costs. Michaels suggests that reviewing insurance coverage as early as possible allows couples to identify what the policy covers and what it excludes. This review helps pinpoint out-of-pocket expenses, such as travel or additional procedures, that will require separate budgeting.

With a clear understanding of insurance limitations, couples can determine how much money to set aside in preparation for potential treatments. Michaels argues that this financial preparation provides peace of mind during a process that is already physically and emotionally taxing. She states that reducing financial anxiety allows couples to focus on the medical and personal aspects of starting a family without the added stress of unexpected bills.