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Over the past 40 years, shifting demographics and profound attitudinal changes have helped redefine the concept of "family" for many Americans.
To understand how this evolving family structure is changing Americans' relationship with money and financial planning, Allianz commissioned the LoveFamilyMoney study.
A white paper detailing insights from the study is available for download here.
The Ever-Changing Family
A generation or two ago, many Americans defined "family" as a mom, dad, and their
kids. But today's modern family comes in many shapes and sizes. Learn more about
the unique family cohorts we researched for this study.
Family consists of a family where one parent is older than
40 and there is at least one child under age five in the household. Our study defined
this cohort as couples of the opposite sex who are married or living together, with
fewer than 10 years' age difference between the partners.
54%agree"We are more financially established because we waited to have children."
23%agree: "We waited to have children later in life specifically for
57%agree: "We are more financially established because we waited to
Family consists of adults ages 40-65 who are married or living
together with someone of the opposite sex, with at least one adult child (ages 21-35)
who left home and then returned to live with his or her parents.
54%agree"I would prefer to have my adult child living at home with me as
long as he/she wants to."
45%agree: "I expect nothing in return for allowing my adult child to
move back home with us.
16%say they have given their adult child a deadline of when he/she needs
to move out of the house.
Family consists of adults ages 35-65 married to someone of
the opposite sex, with at least one child under 21 living in the household. Traditional
families have no stepchildren, no adult children who have returned home, and no
one beside the spouse or children living in the household.
73%say they are spenders verses savers, the highest of all cohorts.
60%indicate they're on track to achieve their financial goals.
It's important for a financial professional to understand what makes your family
unique. The more they understand you, the better they can help you prepare for the
future. Contact us directly or speak to your financial professional, independent
insurance agent, or broker.
At Allianz, we believe that understanding how your clients see themselves is essential
to providing the solutions they need. We know your business and want to help it
grow. We want to provide you with the proper tools and knowledge to keep you informed
of the products that can suit your clients' needs.
At Allianz, you'll find the products you need to plan for your retirement, make smart
investments, and protect both your family and your assets. The Allianz family of
companies offers solutions to help you achieve your financial goals.