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Parenting is a rewarding lifetime commitment that takes us on a complex and challenging financial journey. Preparing early on can make all the difference later.
90% of parents were surprised by how much more money they spent after becoming a parent1
Explore how you can better prepare for your financial future as a family.Get the full report
79% of parents with adult children provide some financial support for their living expenses both large and small, from weddings to phone bills. How do these expectations affect everyone’s financial well-being?
A majority of parents feel they’ve made trade-offs between their own financial security and their child.4 Financial tools and advisors can help prepare parents for the unexpected.
A majority of parents say they’ve taught their kids important financial lessons.6 But it’s more important to serve as a financial role model for your children.
As your family’s needs change, consider working with a financial professional to create a personalized wealth plan centered on your short- and long-term goals. When you’re ready, we’re here to help you take the first step.
1) Base: Total parents of children of any age.
2) Base: Parents with oldest child 18+.
3) Base: Parents to any child age 18-34.
4) 63% Base: Total parents of children any page.
5) Base: Total parents of children any age.
6) Base: Parents of children 13-17.
7) Base: Parents with oldest child 7-17 .
Age Wave and Merrill Lynch, The Financial Journey of Modern Parenting: Joy, Complexity and Sacrifice, 2018
Age Wave is not affiliated with Bank of America Corporation.