Financial Advisors Urge Young Couples to Budget for Fertility Treatments

One in ten Gen Z and Millennial adults are delaying the decision to have children because they are unsure how to afford it or what the move means for their long-term finances, according to new research from Northwestern Mutual.

The data reflects a growing tension between financial uncertainty and biological timelines. Kate Michaels, a managing partner at Northwestern Mutual, noted that while money pushes family plans back, fertility remains a fixed constraint for many couples.

When infertility is diagnosed, many couples consider in vitro fertilization. Michaels described the process as emotionally and financially overwhelming. She emphasized that planning for this scenario involves more than budgeting for a single procedure.

The financial commitment includes a series of costs that occur before the main procedure. "It’s not like you can only plan for an IVF cycle. There may be monitoring appointments and medical exams that you need to account for before you even get to this bigger cost that you might be incurring," Michaels said. She advised couples to consider the potential need for fertility treatments when entering a relationship.

Couples do not need to know if they will require these treatments before speaking with a financial advisor. An early conversation helps prepare for a wide range of potential expenses. Michaels stated that this partnership provides peace of mind during an already taxing period.

"That’s where I think the partnering with a financial advisor gives a lot of peace of mind, because again, it’s already such an emotional, emotionally taxing and physically taxing process," Michaels said. She added that financial anxiety is an additional burden no one wants to face while undergoing treatment alone or with a partner.

Michaels recommends reviewing insurance coverage as early as possible to determine what is and is not covered. This step identifies where out-of-pocket costs, such as travel or extra procedures, may arise. With that information, couples can estimate how much to set aside for these potential expenses.