The newest round of research from MetLife's Mature Market Institute may drive the point home: Retirement planning tends to take on more focus - and more action - when a family's involved, while single employees are placing less emphasis on the future.
The MetLife Study of Family Structure and Financial Well-Being makes the case that while the financial pressures facing American families are intense, particularly their concerns about a safe and secure retirement, they are at least taking action on the issue. More than 72 percent of the people surveyed have children.
Single women make up 14.8 percent of that population, and single men comprise 11.9 percent of the adult American households. There are more than 31 million single-person households, four times the number found in the 1960 census.
Families with (or without) children had an average household income of $67,000-$69,000 and about $224,000-$236,000 in household assets; singles with or without children made only $32,000 a year on average and had about $110,000 in household assets.
Families' biggest single retirement financial concerns were taking care of their living expenses (53 percent) and handling their own or their family's medical expenses (49 percent). A full 63 percent of singles, divorced, separated or widowed respondents without children say they fear the ability to take care of their living costs.
Single people were also much more concerned about depleting their savings in retirement (46 percent) than couples with children (35 percent).