If you don’t have children, and don’t plan on having children, you may be on a very different financial path than someone who has children. You don’t have to worry about paying for childcare, saving for college, or in many cases leaving money to your heirs.
But there are some unique considerations you need to plan for, including who will help you manage your life and finances as you age, as well as planning for aging in place and long-term care.
Kelly Long, a certified financial planner and author of the forthcoming book “Who Will Take Care of You in Your Old Age?” says that for some people, the decision to have or not to have children can be a clear dividing line, but for others, the path forward is less clear. About financial planning without children.
“It’s assumed that people who don’t have children either decided at some point that they didn’t want to have children, or they tried over and over and over again and just couldn’t do it,” she says, “but there are quite a few people who say, ‘I don’t know.'”
If you fall into the latter bucket, Long says it’s important to prioritize flexibility in your financial planning. You can use the money you save to raise your children, but if your priorities change, you want to be able to use it to fund a fulfilling life.
“What are the possibilities in life that I haven’t considered before, whether it’s because I want to be closer to family, provide a stable home, or be ready to have children?” she says. “What would you explore if you knew you didn’t have to worry about anyone but yourself?”
How to save money if you don’t know if you have kids
We may not have answers to these questions yet. But Long says it’s wise to adjust your savings for future years when life might look different.
To do this, she says, you need three types of accounts.
health savings account
Health savings accounts are tax-advantaged savings vehicles available to people enrolled in high-deductible health plans. Like flexible spending accounts, HSAs are funded with pre-tax dollars and can be used to cover medical expenses throughout the year. However, unlike an FSA, an HSA does not have a “use it or lose it” provision and funds can accumulate in the account each year.
In 2026, you can contribute up to $4,400 to your HSA if you only have insurance for yourself, and up to $8,750 if you have insurance for a family member. People age 55 and older who don’t have Medicare can contribute an additional $1,000.
Long urges savers to make maximum contributions each year and pay for medical expenses out-of-pocket if possible. That’s because HSA funds can be invested in stocks, bonds, mutual funds, and more. That money can grow tax-free, and what’s more, you don’t owe Uncle Sam anything when you withdraw the cash, as long as it goes toward qualified medical expenses, past or present.
For those who must provide for their own retirement health care, Long says, it’s a powerful safety net. Additionally, if you want to use savings that would otherwise be spent on children to retire early, a well-funded HSA can help you avoid what she calls “job lock,” or “not having to keep working just to get health insurance.”
Roth IRA
Regardless of whether you end up having children or not, you want to have enough savings for retirement, Long says. Her retirement account of choice is a Roth IRA.
You fund your Roth account with money that you have already paid taxes on. From there, the money in your account grows tax-free. And if you’re 59 1/2 years old and have held the account for five years, you can withdraw your contributions and earnings in retirement without paying any new federal taxes.
Unlike traditional IRAs, which impose penalties if savers withdraw money before retirement age, Roths offer some flexibility with withdrawals. Contributions to a Roth IRA can be withdrawn at any time without penalty. Additionally, if you’ve had your account for at least five years, you can typically withdraw contributions and earnings up to $10,000 for eligible reasons, such as becoming disabled or buying a home.
In 2026, you can contribute up to $7,500 ($8,600 if you’re 50 or older) to a Roth IRA, but the contribution limit will phase out and then disappear for single filers with modified adjusted gross income between $153,000 and $168,000.
If you’re saving for children you won’t ultimately have, having access to your money before retirement age can be invaluable, Long says. “The years from your late 30s to your late 50s to early 60s are good years. You’re approaching a time when health, wealth, and time all align.”
taxable brokerage account
Financial planners often recommend investing at least enough in a workplace retirement account to receive matching contributions provided by your employer. Long agreed, but added that people who may not have children should be wary of the inflexibility of these accounts. Withdrawals from a work account before age 59½ are generally subject to taxes and penalties, with some exceptions.
“A 401(k) is great for matches, but it locks up your money,” she says. “That would be a low priority place for me to save.”
Those who want to access their funds faster should consider a taxable brokerage account, Long says.
As the name suggests, you pay taxes on the money you earn invested in these accounts. If you sell your investments for a higher price than you paid, you will be subject to a tax known as capital gains tax on your profits. Short-term gains (gains realized on investments of one year or less) are taxed as regular income, while long-term gains are taxed at rates ranging from 0% to 20%, depending on your taxable income. Taxes are also typically payable on income from stock dividends and bond interest.
These may be costs worth absorbing for the ability to shift gears more quickly economically, Long says. “When you’re younger and know you won’t have children, you might plan a completely different life path.”
