State of the American Family

How have attitudes toward family finances and financial planning changed? Find out in MassMutual’s fourth "State of the American Family" study. You'll discover new insights and guidance to help you make better financial decisions.


All Families

STATE OF THE AMERICAN FAMILY STUDY

 

All types of American families – multi-cultural, LGBTQ, military, and millennials, to name a few – are feeling more optimistic about their finances. However, worry and uncertainty remain. Learn more about how you can take control of your finances, secure your financial future, and protect the ones you love.

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Retirement calculator

Infographic - 1 in 3 believe the American Dream is disappearing. 1 in 3 have a retirement plan. 1 in 4 are prepared for a financial emergency.

Not all debt is bad. But it takes knowledge and vigilance to maintain the balance.

SOAF Debt challenges

Don’t have enough saved to cover a sudden need? Here’s how to get your financial safety net in place. 

Emergency fund basics

Super savers invest smart, set goals, and use new money to strengthen their financial safety net. 

SOAF 4 savings strategies


African American Families

STATE OF THE AMERICAN FAMILY STUDY

 

African American families are optimistic and focused on improving their financial position despite money worries. MassMutual understands your concerns and can help you achieve your idea of the American Dream. Learn more about how you can take control of your finances, secure your financial future, and protect the ones you love.

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Life insurance calculator

Infographic - 79% percent of African American families say paying down debt is a high priority. 47% of African Americans are more likely to include extended friends and family in their definition of family. Of all ethnic groups surveyed, African American parents are most actively involved  in educating their children on finances.

Debt and lower incomes present headwinds to wealth accumulation in the African American community.

SOAF African American findings

Americans, especially kids, need help learning the basics of money management.

Financial literacy problems loom

Set a plan for your savings goals as part of a long-term financial strategy.

Set your savings goals


Asian Indian Families

STATE OF THE AMERICAN FAMILY STUDY

 

Asian Indian families are taking many steps to secure their financial future. However, they are still trying to find effective ways to balance priorities while maximizing their savings and investments. Learn more about how you can take control of your finances, secure your financial future, and protect the ones you love.

Download executive summary

College savings calculator

Cut college costs by as much as half by studying abroad, leveling down, or paying in-state tuition. 

College costs

Knowing the differences between a mutual and stock insurer is key before purchasing your life insurance policy. 

Mutual vs. stock companies

When stock and bond markets get volatile, many investors look to move their money into less uncertain areas.

Cash off table


Chinese American Families

STATE OF THE AMERICAN FAMILY

Chinese American families are embracing American values and cultural traditions to build personal and financial success for their families. Learn how to create a nest egg for retirement, secure your family’s future, and protect the ones you love.

Download executive summary

Life insurance calculator

Buying a life insurance policy for your child or grandchild can help them protect their future financially.

Gifting life insurance

Super savers invest smart, set goals, and use new money to strengthen their financial safety net. 

SOAF 4 savings strategies

There are benefits to having a financial plan and being thoughtful in your retirement approach.

Retirement


Families with Special Needs

STATE OF THE AMERICAN FAMILY STUDY

 

Caregivers of dependents with special needs are most concerned about the future independence and financial well-being of their loved one. Learn more about how you can secure the financial future of your loved one with special needs.

Download executive summary

Financial guidance for caregivers

Infographic - In order to try to balance work and home life, working parents of a child with special needs are more likely to get help with childcare from family other than their parent(s)/ in-law(s); 17 vx 10% non-special needs. Caregivers spend about 5 hours a day providing care to their dependent with special needs. Only 50% of families with dependents with special needs have at least 3 months or more emergency funds saved.

A veteran who lost his sight had to learn to trust his guides to tackle a marathon. Now he’s hooked. 

Living Mutual and running with guides

How a disabled marathon runner inspires others and gets his own inspiration.

Live Mutual lesson from wheelchair marathoner

Parents with a disabled child must advocate for government benefits and create a financial plan.

Special needs planning


Korean American Families

STATE OF THE AMERICAN FAMILY STUDY

Korean American families are balancing two cultures in order to secure a better financial future for their children. Learn more about how you can manage risk, secure your children’s education, and protect the ones you love.

 

Download executive summary

Financial goals calculator

 

 

Infographic - 60% of Korean American families include paying down debt as a financial priority. 57% of Korean American families include college as a financial priority. Only 20% of Korean American families have an actual retirement plan in place.

Paying off debt is important, but not at the expense of savings and retirement plans.

Managing debt in a balanced way

College tuition continues to rise so understanding financial aid options is critical.

Paying for school

Contributing to qualified retirement plans is just part of the equation.

Setting retirement goals


Latino Families

STATE OF THE AMERICAN FAMILY STUDY

 

Latino families are taking steps to secure their financial future and dreams, but more can be done to keep the American Dream alive. MassMutual can help. Learn how to take control of your finances and protect the ones you love.

Download executive summary

Financial goals calculator

Infographic - 61% of Latino families consider paying for their children's college education a financial priority. Retirement is a concern for Latino families. 2/3 are not confident they are prepared for retirement. One third have a plan for retirement. More than 83% of Latino families define the American Dream as financial security for their family. However, less than half (48%) feel confident that they can achieve this. 

Can you help your aging, financially struggling parents without compromising your future financial security? 

Helping parents

Hispanic families are sending their kids to college in record numbers, but many still struggle to cover costs. 

SOAF Latinos and college planning

Set a plan for your savings goals as part of a long-term financial strategy.

Set your savings goals


LGBTQ Families

STATE OF THE AMERICAN FAMILY STUDY

 

LGBTQ families are conflicted by the desire to enjoy life today and planning for their family's financial future. MassMutual has a long-standing commitment and partnership with the community. Learn more about how you can take control of your finances, secure your financial future, and protect the ones you love.

Download executive summary

Life insurance calculator

60% of LGBTQ families will only buy financial products from companies that are socially responsible. 37% of LGBTQ families have less than 1 month of expenses saved for an emergency. Only 37% of LGBTQ families are confident in their ability to pay for their children's education.

How parents of LGBTQ children can show love and support at home.

MassMutual offers advice from the experts on raising an LGBT child

Certain unique financial challenges affect LGBTQ parents, but resources exist to ease the burden.

LGBTQ parent challenges

There are many financial opportunities – and potential pitfalls – for gay and lesbian couples.

Estate planning for LGBT couples


Military Families

STATE OF THE AMERICAN FAMILY STUDY

 

Military families are confident making short and long-term financial decisions. With a disciplined approach, military families are prioritizing paying down debt and building a financial cushion. Start preparing for your financial future today using the calculator below.

Download executive summary

Retirement calculator

Infographic - 45% of military families are confident they are financial prepared for retirement vs 32% non-military families.  63% of families have credit card debt vs 55% non-military families. 1 in 4 military families have less than one month of expenses set aside for emergencies.

A veteran who lost his sight had to learn to trust his guides to tackle a marathon. Now he’s hooked. 

Living Mutual and running with guides

If you ask a soldier what makes a good soldier, odds are he or she will tell you other soldiers.

Teamwork

Service members may need a supplemental policy to protect their family after they retire or leave the military.

A MassMutual financial advisor can help


Millennial Families

STATE OF THE AMERICAN FAMILY

Millennial families are more focused on their financial priorities than other generations. However, they are challenged by their day-to-day expenses and are looking for effective ways to plan for their future. MassMutual can help. Learn how to take control of your finances and protect the ones you love.

Download executive summary

Financial Goals Calculator

Getting a policy early in life costs less than when you’re older and leaves options open. 

Life insurance in 20s

Younger buyers seek affordable homes in the suburbs.

Millennial homebuyers

Retirement saving is not on most millennials’ list of top priorities.

Millennials and retirement: The to-do list


Sandwich Generation Families

STATE OF THE AMERICAN FAMILY STUDY

 

Caring for your loved ones, both young and old, is rewarding yet we understand it comes with emotional and financial stress. Learn more about how you can control your finances, secure your future and protect the ones you love.

Download executive summary

Disability Insurance Calculator

Most family caregivers act out of love, but can incur costs that may impact their own financial well-being.

LTC Keeping caregiver  costs contained

Can you help your aging, financially struggling parents without compromising your future financial security? 

Helping parents

If your mom does not have certain plans in place, she may be vulnerable to financial risk. 

Questions for mom


Women

STATE OF THE AMERICAN FAMILY

Women are taking steps to improve their overall financial situations. However, they continue to look for effective ways to manage their financial priorities and secure their future. MassMutual can help. Learn how to take control of your finances and protect the ones you love.

Download executive summary

Retirement Calculator

Budgeting and planning tips for a new baby.

Calculate the cost today

Women plan well for retirement, but they still lag behind men in account balances. 

MassMutual can help.

Women often help their friends and family at the expense of their own financial security.

Women and finances

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Insurance products issued by Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MA 01111-0001) and its subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company (Enfield, CT 06082).