Financial advisors are failing child-free clients. Here's how to fix it

When the phrase the "American Dream" was coined in the 1930s it represented the promise of endless opportunity and the hope that each generation could do better than the last — even in the midst of the Great Depression. 

After World War II, the dream morphed into a more prescriptive model: homeownership, marriage and the axiomatic 2.5 children. That framework didn't just shape culture, it became embedded in financial planning assumptions.

Fast forward to 2026: Both the culture and the math behind the American Dream have changed. Homeownership has dropped to all-time lows, while health care and higher education costs have skyrocketed. Pensions have largely disappeared, replaced by market-dependent retirement accounts. 

READ MORE: Childfree savers are falling behind on estate and long-term care planning

The growing child-free trend

Against this backdrop, the percentage of U.S. women aged 15 to 44 with no children climbed steadily from 2014 to 2024, according to the U.S. Census — a trend experts say will continue in coming years. Roughly 25% of U.S. adults now identify as child-free or permanently childless. Among adults under 50 without children, nearly half say they never plan to have them, according to the Pew Research Center. 

This is no longer a fringe lifestyle choice but a structural shift — one that financial advisors are, for the most part, unprepared for. 

My wife and I, who are child-free, encountered this firsthand when we searched for financial advice. We encountered client intake forms that asked about children by default and software models that factor in college funding whether it applies or not. 

Most importantly, most financial plans still optimize for accumulation and inheritance. In other words, the success of a financial strategy is still measured by how much is left to increasingly nonexistent children. 

For child-free clients, those defaults often lead to overaccumulation, unnecessary years of work, and plans that optimize for a future they never intended. Here are three adjustments for advisors who wish to better serve this growing client base.
 
READ MORE: Advising the FIRE client: Fan the flames or put them out?

Plan for flexibility, not finish lines

Child-free clients are far less likely to view retirement as a single, irreversible event. Many pursue financial independence with alternatives like flexible work, career shifts or phased downshifting rather than full retirement.

One example from my practice: A child-free couple in their early 40s living in New York City wanted to retire early and spend more time on the things they genuinely enjoy. To achieve this goal, we challenged default assumptions and prioritized flexibility and fulfillment over income targets. They paid off their mortgage 25 years early using cash initially earmarked for a bigger place. They now structure their time around volunteering, creative pursuits, extended time with family and launching an independent business.

Their plan worked because it acknowledged a reality traditional plans ignore: The couple had no children to fund, no need to delay gratification for future dependents and no reason to optimize for inheritance. Applying a child-centric framework would have meant years of extra work, not because they needed to, but because the plan assumed they should.

READ MORE: Powers of attorney: which type does your client need?

Move incapacity planning to the fore

Without children, clients face a question parents rarely do: Who will make decisions for me if I can't? That leaves the one-quarter of U.S. adults with no children dangerously unprepared for the aging process. 

For child-free clients, the dominant risk isn't estate taxes but the prospect of physical and/or mental incapacity. To solve for this, advisors should integrate care planning into clients' financial and legal strategy. 

Make sure medical and financial powers of attorney documents are in place. Normalize professional fiduciaries as executors, trustees or POAs by treating them as a standard planning option rather than a last resort. For clients without children, naming a qualified, independent professional can reduce conflict, ensure continuity and relieve loved ones of administrative and emotional burdens. 

When incapacity planning is addressed early, client anxiety drops and follow-through improves.

READ MORE: The retirement endgame: How to guide clients of all generations to their golden years 

Shift legacy planning from lineage to impact

The default assumption that offspring will fill the care gap creates what I call a fiduciary void in child-free estate planning — one that leads many to delay the process entirely. 

A study commissioned by my firm found that over 70% of child-free adults have completed no estate planning documents at all, despite being statistically more likely to age without an informal caregiver. The same study found that only 19.9% of child-free adults have a will, compared to 32% of the general U.S. population. 

Without children, legacy planning shifts from bloodlines to making a broader impact. In planning terms, that translates into emphasizing stewardship, not inheritance optimization.

Advisors can support this by introducing philanthropy and lifetime giving earlier on in the planning process. They can also encourage a tax strategy that aligns with spending and values, not generational transfer.

For financial planners, child-free Americans represent a growing niche but also a professional obligation. Our job is to serve these clients' actual needs, not those assumed by outdated models. 

A quarter of Americans aren't failing the plan, the plan is failing them. It's time to update it.