Fertility Costs: Gen Z and Millennials Delay Family Plans Over Financial Uncertainty

A new survey indicates that financial uncertainty is a primary factor preventing younger generations from starting families.

Northwestern Mutual found that 10% of Gen Z and Millennial respondents are delaying having children due to concerns about affording the process or its impact on long-term finances. Kate Michaels, a managing partner at the firm, noted that while money pushes these plans back, biological fertility windows do not wait. She stated that infertility treatments, specifically in vitro fertilization, can be both emotionally and financially overwhelming for couples.

The financial burden of IVF is not limited to the procedure itself. Michaels explained that couples must account for monitoring appointments and medical exams that occur before the main cycle. These preliminary steps add to the total cost before the primary expense is incurred. She advised that individuals should consider the potential need for fertility treatments when entering a relationship, rather than treating it as an unexpected event.

Michaels emphasized that couples do not need a confirmed diagnosis to begin financial planning. An early conversation with a financial advisor allows individuals to prepare for a range of potential costs. She argued that this preparation provides peace of mind during a physically and emotionally taxing process. The goal is to prevent financial anxiety from compounding the stress of the medical journey, whether a person is navigating it alone or with a partner.

A key part of this planning involves a thorough review of insurance coverage. Couples should determine early what their policies cover and what they exclude. This clarity helps identify where out-of-pocket costs will arise, such as travel expenses or additional procedures not included in the base plan. With a clear picture of these gaps, individuals can determine how much money to set aside as a contingency fund.

The research suggests that integrating fertility costs into broader financial planning is a practical step for younger adults. By addressing these expenses proactively, couples can reduce the financial shock that often accompanies a diagnosis. The data points to a growing awareness that family formation is a complex financial undertaking, requiring preparation similar to other major life milestones.