1) Older Parent with Young Children Families Older parent families have one parent over 40 years old who is married to someone of the opposite sex, and their first child is under age 5. N=146 Gender 50% female | 50% male Age 43.5 years old (average) | 93% are 40-49 years old | 5% are 50-59 years old Children 72% have 1 child | 25% have 2 children | 3% have 3+ children Ages of children 72% 0-2 years | 49% 3-8 years Race 80% Non-Hispanic white | 14% Non-Hispanic other | 5% Hispanic | 1% Non-Hispanic Black Marital history 100% currently married (84% in first marriage) Employment 81% employed (66% employed full-time) 85% of spouses/significant others employed (74% employed full-time) 1% are retired Expect to retire: 20% before age 65 | 36% age 65-69 | 27% age 70+ | 18% never Education 23% some college/VoTech or AA degree 75% college degree (40% BA/BS degree, 27% graduate/postgraduate degree) Income $107,200 average annual household income before taxes (13% earn $150,000+) Savings $218,200 average household savings and investable assets $235,800 average retirement savings (13% with $500,000 or more) 27% could last one year or more if the main breadwinner(s) lost source of income Debt $35,060 average debt (not including mortgage) 12% more than half of monthly pre-tax income going to debt payments (including mortgage) 59% are comfortable with the amount of household debt Financial products 64% own life insurance | 25% have an education savings plan (e.g., 529 plan) 12% own an annuity Financial advisor 45% have ever used a financial advisor | 24% currently have one ABOUT THE STUDY Over the past 40 years, shifting demographics and profound attitudinal changes have helped redefine the concept of family for many Americans. To understand how this evolving family structure is changing Americans’ relationship with money and financial planning, Allianz commissioned the Allianz LoveFamilyMoney Study, 2014. (9/2015) ENT-1794 Find more information on the LoveFamilyMoney study at www.LoveFamilyMoney.com.