Planning for parenthood: How to manage the costs of fertility treatments

(NC) For many, fertility treatments offer a pathway to parenthood—but come with high costs that can feel daunting. Whether treatments are pursued for medical reasons, as part of family planning for same-sex couples or to preserve fertility, the financial impact can be significant.

“The expense of fertility treatments can be overwhelming, and many people often wonder how to make it work financially,” says Shereen Debanné, investment advisor at TD Wealth. “With a well-structured savings and investment plan, however, would-be parents can confidently plan for these costs while pursuing their dreams of starting a family.”

A wealth advisor can be an invaluable resource in charting a path forward, providing support tailored to both the financial and emotional aspects of fertility. The importance of having a trusted advisor goes beyond money—it’s also about having someone who can offer peace of mind, helping to bring dreams of parenthood closer to reality.

Advisors can assist you with establishing financial strategies that are personalized and flexible, designed to cover both the immediate and long-term costs associated with family planning. This might involve setting up dedicated savings accounts, exploring employer benefits or diversifying investments to create a buffer for high-cost treatments.

Parenthood also often brings unique financial pressures, and studies have shown how deeply this impacts women, who are disproportionately affected by parental responsibilities in the workforce. A recent survey uncovered that many women approach savings and investments differently when planning for family-related expenses, whether for fertility treatments, egg freezing or navigating the costs of parental leave. Having advisors who understand these nuances can help guide prospective parents through these pivotal life changes.

“These are intensely personal and impactful decisions and being prepared financially is one of the best ways to approach them with confidence,” Debanné adds.

Learn more ways to plan for the cost of fertility treatments at td.com/wealth.