According to a recent study published on June 22 in the American Journal of Sociology, American parents are not as happy as other childless couples. Matthew Andersson, researcher and assistant professor of Sociology at Baylor University in Waco, Texas, explains that this "happiness gap" between parents and childless couples can be attributed to standard work policies that are applicable to both parents and non-parents, which prevents them from having flexible work schedule, vacation or sick leave that may be required to support their child. At the same time, the countries that have compulsory paid leaves program mandated by the government have a smaller "happiness gap" between parents and childless couples. This means that that child care programs can advance parents' happiness and help the society as a whole.
In a recent report, it was pointed out hat the couples who do not have children enjoy greater financial stability as they are exempted from paying the extra $245,000, cost of raising a child until they are 17. This sum of money can be used by these couples to fund their retirement. However, if not children, the childless couples would have ot
The sum of money could be used to fund retirement for childless couples, in theory. But childless couples would also have other costly things like travel, for instance, and retirement planning may seem insignificant.
Though retirement can be more predictable, childless couples should realize that preparation for the death of a spouse is essential, since they don't have children to rely upon. This is when income usually goes down, tax liabilities increase and expenses either stay the same or increase which the surviving partner would shoulder on their own, as explained by Gregory Hammer of Hammer Financial Group.
Childless couples' counterpart, DEWK or double earners with kids should also be vigilant to crunch the numbers, plan for everything and retirement income to long-term care shouldn't be neglected. Sally Brandon of Rebalance IRA summed it up: "Being aware, as with anything, is half the battle."
