While women across generations are willing and eager to provide financial support to their family members, they are also placing a strong emphasis on self-reliance, according to the MetLife Mature Market Institute study, Women’s Views on Family Financial Obligations: A MetLife Survey of Intergenerational Findings of Baby Boomers and Generations X and Y.

One tendency that appears to be universal among the women surveyed (almost eight in 10 across all generations) is the desire to be able to give more financially to children or grandchildren. Similarly, across generations, women strongly agree that they need to prepare for retirement to avoid depending on family members later in life - 89% of Boomers (b. 1946–64), 88% of Gen Xers (b. 1965–1976) and 84% of Gen Yers (b. 1977–1990).

Boomers place a strong focus on self-reliance and are more likely to report that they are financially secure than the other generations (60% vs. 47% of Gen Xers and 50% of Gen Yers). If given the choice between spending money to enjoy retirement versus saving with the intent to leave an inheritance, both Boomers (73%) and Gen Xers (69%) were more likely than Gen Yers (54%) to agree with the retiree who is giving small gifts to her children, but is more focused on enjoying retirement. Approximately half of the women overall feel they have a strong or absolute responsibility to provide financial support for their children’s education; however Gen Yers were significantly more likely to do so, as reported by 57% of women (compared to 51% of Gen Xers and 45% of Boomers).

Image contains the bar chart which is showing the percentage of providing financial support for children's higher education


As women get older, they indicate they've contributed significantly to their children and that the time has come to focus on their own needs for both enjoyment and independence.

Respondents’ emphasis on self-reliance extends to their reluctance to accept financial help from their children. In times of financial difficulty, an equal percentage of women across all generations would give financial help to parents and/or in-laws, but 45% of Boomers say they wouldn’t accept financial help from their adult children, even if they needed it.

“What’s apparent from this study is that having a plan for independence is important for family financial security, especially for women as they age; many clearly don’t want to rely on their families,” said Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute.

“In our interviews and through the data, we also found that obligation and responsibility are part of how generations feel about caring for each other, but they are certainly not the overriding reasons. The desire to help, financially and non-financially, comes from a feeling of caring and love.”

Among women, life insurance is viewed as a key component to ensuring their family’s financial security. As one respondent to the study said “I couldn’t imagine not having life insurance. I just can’t imagine there being that added stress for my family.”

There are some key distinctions between younger and older women when it comes to the reasons for having or needing life insurance. Generation Y (83%) and Generation X (79%) cite having or needing life insurance to support their children if they die prematurely, followed by a desire to support a spouse. Likewise, younger women were more likely than Boomers to say paying for children’s education was a major reason for having life insurance. Boomers (59%) were more likely to say life insurance is to support their spouse if they die prematurely, followed by to cover funeral costs.

The strong desire to help children financially doesn’t necessarily extend to the grandparent-grandchild relationship. Only 8% of Boomer women feel a responsibility to support a grandchild’s education. However, the feeling of responsibility for grandchildren’s education is on the rise – 15% of Gen Yers and 13% of Gen Xers say that providing support for grandchildren’s education is a responsibility.

Some Gender Differences Observed

In general, men indicate a greater feeling of responsibility to protect their families financially from an unexpected death. Men (83%) are more likely than women (73%) to feel a sense of responsibility for making sure their spouse has enough money if they died unexpectedly, particularly among Boomers (84% vs. 71% of women).

Fathers and grandfathers overall are more apt to wish they could give more financially to their children and grandchildren than their female counterparts (82% vs. 77% of mothers and grandmothers).

Life insurance coverage is higher among older men. Gen X and Boomer men are more likely to report being covered by life insurance, either through an employer or paid for individually (83% vs. 76% of women). Among those who have not purchased individual life insurance policies beyond what their employer provides, men are more likely than women to say they don’t need it since they are healthy and expect to live a long time.


The findings in Women’s Views on Family Financial Obligations: A MetLife Survey of Intergenerational Findings of Baby Boomers and Generations X and Y were based on responses from 1,060 women from the 2012 MetLife Mature Market Institute study, Multi-Generational Views on Family Financial Obligations. This online survey of 2,123 Americans ages 21 to 65 was conducted from June 29 to July 20, 2011. Respondents were selected from among Harris Interactive’s online research panel. To qualify, respondents had to have household incomes of at least $40,000 ($30,000 if Gen Y). Boomers and members of Gen X were required to have a dependent — either a spouse or a child; Gen Yers did not necessarily have dependents. The data were weighted by age, gender, education, and race/ethnicity to best reflect this target population. In addition, a total of seven interviews were conducted with pairs of parent and child representing all three generations to add depth to the findings from the survey.

Women’s Views on Family Financial Obligations: A MetLife Survey of Intergenerational Findings of Baby Boomers and Generations X and Y can be downloaded from The study can also be ordered through Contact Us on the MetLife Mature Market Institute Web site, by writing to: MetLife Mature Market Institute, 57 Greens Farms Road, Westport, CT 06880 or by

Mathew Greenwald & Associates

Mathew Greenwald & Associates, Inc. is a leading full service public opinion and market research firm that has been conducting customized research for over 25 years. Specializing in serving the research needs of financial services organizations, Greenwald & Associates has earned a reputation for extensive research knowledge, industry expertise, and commitment to serving the needs of its clients. For more information about Mathew Greenwald & Associates, visit:

The MetLife Mature Market Institute®

Celebrating its 15-year anniversary in 2012, the MetLife Mature Market Institute is Metropolitan Life Insurance Company’s (MetLife) center of expertise in aging, longevity and the generations, and is a recognized thought leader by business, the media, opinion leaders and the public. The Institute’s groundbreaking research, insights, strategic partnerships and consumer education expand the knowledge and choices for those in, approaching or working with the mature market.

The Institute supports MetLife’s long-standing commitment to identifying emerging issues and innovative solutions for the challenges of life. MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. For more information, please visit:


DJC Communications
Debra Caruso
Shalana Morris