The American Dream is evolving. Earlier generations often bought homes and started families sooner, but with housing costs and living expenses rising, some younger Americans are choosing to be DINKs (dual-income, no kids).
But even as social media blows up of the carefree couples using their paychecks for vacations, friends and hobbies—their future may not be as financially liberating as they think. According to a new analysis from Pew Research Center, couples without kids have less wealth than couples that do.
One of the key reasons: homeownership. DINKS may have higher household incomes and more advanced degrees, but they own fewer homes, resulting in less equity. Having kids often push couples into homeownership: 71% of DINKs own a home, compared with 79% of dual-income couples with kids.
Age is also an important factor, as people tend to accumulate more wealth as they grow older. The survey found the median age of the older spouse in DINK couples is 36, compared to 43 among dual-income couples with kids.
The ages measured in the survey are mostly late millennials and early Gen X. Pew research describes DINK couples as married couples in which at least one spouse is 30 to 49 years old. Both spouses work and earn an income, and neither spouse has ever had any children.
