Dual income, no kids. My friends in this situation are asking how they should think differently about financial planning—for now and the long term.   

While there are countless reasons why couples are childless, a 2024 Pew Research survey found that the desire to focus on career, interests, or other pursuits is a popular reason families choose the DINK lifestyle. Without the high costs of raising children, DINK couples have more disposable income to spend on discretionary items, travel, and hobbies. These households tend to prioritize retirement, lifestyle enhancements, charitable giving, health maintenance, and independent living. As a result, financial planning must reflect their needs and, in some cases, provide creative solutions.

Rightsizing retirement planning 

DINK households tend to allocate more money to retirement plans and savings—and they do so earlier than couples who are raising children. Often, these couples follow retirement-planning best practices, maxing out their 401(k) annual contribution limit and supplementing it with cash balances and deferred compensation plans. They tend to invest the remainder in investment accounts for aggressive compounding, with greater exposure to growth stocks. The increased focus on saving earlier accelerates their retirement dates. And if retirement enables them to spend time on activities that bring joy and satisfaction, this planning path is indeed appropriate as it increases the intrinsic value of their wealth.

However, aggressively saving for early retirement may not be the right choice for every DINK household—especially those with high incomes. After our planning scenarios, a client in her mid-50s learned that she could end up dying with millions of dollars if she followed the typical advice to save aggressively for the future and spend frugally on current needs. Armed with that knowledge, she decided to take more bucket-list trips, use the annual gift exclusion to send money to her niece for school tuition and supplies, and plan larger donations to her favorite nonprofit organizations. 

If you are in a similar situation, your wealth may outlive you. You may want to start actively considering what your ultimate wealth goals might be. The answer is not a number. Rather, it’s a narrative: How can you spend your resources helping people or promoting cherished causes during your lifetime, while also maximizing your lifestyle?

Creative charitable planning 

If you’ve taken care of your own needs and wants, there are countless opportunities to use your funds to build a legacy. We recently worked with a couple who made multiple small donations to various organizations whenever they were solicited. Because they wanted to be more intentional about their giving, we engaged a philanthropic consultant to help them develop a more impactful strategy. The consultant led the couple through a self-discovery exercise to explore their priorities and the communities, causes, and geographic regions they wished to support. The couple then used the results to craft a charitable mission statement and worked with the consultant to identify organizations aligned with their priorities.

One couple we work with owns a magnificent home that they helped design and build. They intend to donate the residence to a local university’s architecture and engineering school, which trains students in specialized design, construction, preservation, and restoration techniques. As their financial advisors, we were able to establish an endowment and estate plan to support this endeavor.

Housing on your terms 

While couples with children often prefer homeownership because their heirs will inherit the residence, some DINKs prefer renting because it allows greater flexibility to move on relatively short notice. For some clients, we have found that renting is helpful on the numbers side, leaving more liquid capital for compounding. Some DINKs who own real estate opt to use a reverse mortgage to tap into the substantial capital tied to their residence, especially later in life, to generate additional cash flow during the withdrawal phase. For DINKs who plan to age in place in their current home and don’t anticipate moving or selling, a reverse mortgage can be a great option. However, reverse mortgages are complex and have upfront costs, so you should work with an advisor to thoroughly understand the pros and cons.

No matter how, where, or on what terms you decide to live in your prime, there are practical considerations that DINKs can take to secure their independence and quality of life in the years to come.

Securing your senior years 

It’s important to have a plan in place if you ever become unable to manage your finances. Make sure you’ve shared your wishes and estate documents with your loved ones and granted at least one person the power of attorney to pay your bills, call your wealth advisor and bank on your behalf, and even engage a realtor to sell the house for you. If you prefer not to burden a family member with these tasks, Cerity Partners advisors work with professional fiduciaries who can be named in your estate documents to step in if necessary. 

On the personal care and support side, those who prefer to age in place will need to plan for home care. Typical care includes bathing, dressing, eating, mobility, and continence care. There are also a few crucial but less-mentioned benefits: companionship, cognitive engagement, medication reminders, meal preparation, and light housekeeping.

The average annual cost for assisted living in 2025 was $73,000, according to Assisted Living Magazine, and memory care or skilled nursing can elevate those costs significantly. Traditionally, long-term care insurance can help pay for in-home care, rehabilitation, assisted living, and adult day care. While policies include benefit structures and an initial waiting period, these features help keep costs more manageable over time. One of the advantages of long-term care insurance is the financial predictability it offers over self-funding. By contrast, younger DINK couples who opt to self-fund should aggressively fund their health savings account (HSA) and retirement savings to prepare for this expense. HSAs can be used for medical care, while retirement savings can be used for home care expenses. It is also worth considering life insurance with long-term care coverage. 

There are layered planning considerations for a dual income, no kids household, and it’s important to have a financial plan that reflects your choices and intentions for your wealth. For more information, reach out to your Cerity Partners advisor or request an introduction today.

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