Northwestern study links cost to delayed parenthood

Northwestern Mutual released new research on the intersection of fertility and finance for younger generations.

The study indicates that roughly 10% of Generation Z and Millennial adults are delaying childbearing due to financial uncertainty.

Kate Michaels, a managing partner at Northwestern Mutual, stated that monetary concerns are currently outpacing biological timelines for many couples.

She noted that infertility treatment, particularly in vitro fertilization, presents substantial emotional and financial hurdles.

Michaels emphasized that planning for fertility care extends beyond the procedure itself. It includes monitoring appointments and medical exams that occur before the main cost.

"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.

She advised couples to consider the potential need for fertility treatments when entering a relationship.

Financial advisors can assist with these projections even if a couple has not yet experienced infertility.

Early consultations allow individuals to prepare for a variety of potential expenses.

Michaels argued that professional guidance reduces the stress associated with medical treatment.

"That’s where I think the partnering with a financial advisor gives a lot of peace of mind, because again, it’s already such an emotional, emotionally taxing and physically taxing process," she said.

She added that financial anxiety is an unwanted addition to an already difficult journey for partners or individuals undergoing treatment alone or with a significant other.