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Will My Kids Be Better Off? [Study]

“Will my kids be better off than me?” is a question at the forefront of every parent’s mind. It’s certainly something I think about for my two children.

Today’s parents are increasingly called upon to provide for their children well into adulthood. It’s never too soon to start preparing our kids for a strong financial footing, and we’ll do whatever it takes to ensure it. However, our concern for the next generation doesn’t begin and end at financial wellness.

Our research explores the financial concerns of parents today

“Will my kids be better off than me?” is a question at the forefront of every parent’s mind. It’s certainly something I think about for my two children.

Today’s parents are increasingly called upon to provide for their children well into adulthood. It’s never too soon to start preparing our kids for a strong financial footing, and we’ll do whatever it takes to ensure it. However, our concern for the next generation doesn’t begin and end at financial wellness.

Concern for our family’s future spans across a breadth of issues including lifestyle habits, quality of life, happiness and even the state of our environment. What kind of world are we leaving for our children, and will they live a higher quality of life as adults?

I certainly hope so, but not everyone is optimistic.

 

Results: Our 2015 Next Generation Reality Report

In producing our 2015 Next Generation Reality Report, with the help of research company YouGov, we explored the major concerns facing today’s families. The report shows that many parents are anxious for their children, especially around financial wellness and disposable income. However, they’re also hopeful and believe their children will be healthier adults with a higher quality of life and sense of diversity.

Key highlights from the report include:

  • Only one in eight (13%) American adults believe their children will be better off financially
  • More than half of American adults (52%) believe their children will have less disposable income in the future
  • The Midwest is less optimistic about disposable income compared to the Northeast – with 59% of Midwesterners thinking their kids will have less disposable income compared to 40% of Northerners
  • Two thirds (66%) of Americans believe their children will be at least as healthy or have healthier lifestyle habits
  • Only one in five Americans (20%) believe their children will have a better quality of life

You can view our full findings in the report:

 

Planning now to protect your children’s future is not only smart, but also necessary to ensure we’re setting up the next generation of adults for success. We invite you to explore the 2015 Next Generation Reality Report findings and hope this will serve as a conversation starter for your family.

Yaron Ben-Zvi
CEO and Co-Founder, Haven Life

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About Yaron Ben-Zvi

Yaron Ben-Zvi is Head of Platform Innovation for MassMutual, as well as the co-founder and CEO of Haven Life, MassMutual’s in-house startup that’s setting the pace for innovation in life insurance. In this role, Yaron oversees the strategy and vision of direct-to-consumer initiatives and is responsible for the delivery of an end-to-end digital life insurance transactional platform. His interest in life insurance began as a customer when he set out to buy a life insurance policy for himself and found existing solutions had not yet realized the potential of digital capabilities in the space. Previously, Yaron was a founder in several early stage companies, including a digital life insurance agency as well as an early robo-advisor. Earlier in his career Yaron worked with various innovative media companies. He was an early employee at social listening platform BuzzMetrics, later acquired by Nielsen Media, as well as an early employee at Oxygen Media, later acquired by NBC. You can read more content from Yaron on Forbes or via his LinkedIn posts.

Read more by Yaron Ben-Zvi

Our editorial policy

Haven Life is a customer-centric life insurance agency that’s backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe navigating decisions about life insurance, your personal finances and overall wellness can be refreshingly simple.

Our editorial policy

Haven Life is a customer centric life insurance agency that’s backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual). We believe navigating decisions about life insurance, your personal finances and overall wellness can be refreshingly simple.

Our content is created for educational purposes only. Haven Life does not endorse the companies, products, services or strategies discussed here, but we hope they can make your life a little less hard if they are a fit for your situation.

Haven Life is not authorized to give tax, legal or investment advice. This material is not intended to provide, and should not be relied on for tax, legal, or investment advice. Individuals are encouraged to seed advice from their own tax or legal counsel.

Our disclosures

Haven Term is a Term Life Insurance Policy (DTC and ICC17DTC in certain states, including NC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and offered exclusively through Haven Life Insurance Agency, LLC. In NY, Haven Term is DTC-NY 1017. In CA, Haven Term is DTC-CA 042017. Haven Term Simplified is a Simplified Issue Term Life Insurance Policy (ICC19PCM-SI 0819 in certain states, including NC) issued by the C.M. Life Insurance Company, Enfield, CT 06082. Policy and rider form numbers and features may vary by state and may not be available in all states. Our Agency license number in California is OK71922 and in Arkansas 100139527.

MassMutual is rated by A.M. Best Company as A++ (Superior; Top category of 15). The rating is as of Aril 1, 2020 and is subject to change. MassMutual has received different ratings from other rating agencies.

Haven Life Plus (Plus) is the marketing name for the Plus rider, which is included as part of the Haven Term policy and offers access to additional services and benefits at no cost or at a discount. The rider is not available in every state and is subject to change at any time. Neither Haven Life nor MassMutual are responsible for the provision of the benefits and services made accessible under the Plus Rider, which are provided by third party vendors (partners). For more information about Haven Life Plus, please visit: https://havenlife.com/plus.html

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