America’s birthrate has hit its lowest point in more than a century. Some blame it on infertility, others say the state of the world is causing couples to think twice about having children.
Then there’s another group of young couples who want the lifestyle a childless household brings with it. They’re called “DINKs” -- Dual Income No Kids -- and they’re trading parenthood for luxury vacations and impromptu date nights.
Thousands of couples are going viral, sharing their choice to opt out of parenthood.
A study by Pew Research Center found that 44% of non-parents aged 18 to 49 said they were not likely to have kids ever! That’s up by 7% since 2018. The main concern? Cost.
Last year, the Department of Agriculture reported it costs $292,000 to raise one child from birth to 17. If you have two children, that’s more than half a million dollars, and that doesn’t even account for college.
However, experts warn your decision may cost you more in the long run. In fact, you lose cashing in on the annual child tax credit and your decision will also impact later life care.
The average cost of a U.S. nursing home is now $2,432 a month. Five years for one person adds up to more than $145,000.
Experts say that although “DINKs” stand to save a quarter of a million dollars for each child they decide not to have, they still need to save and invest wisely to afford help in their senior years.
The reality is, you can “DINK” if you plan carefully and remember that not all decisions are final. Young “DINKs” can always consider children after enjoying their luxury vacations and shopping sprees.