Father's Day 2025: How Gen X And Millennial Dads Handle Money

On Father's Day it's not only the sentimental aspect of fatherhood that gets its due. Modern dads are increasingly stepping up to the plate when it comes to money matters—and how they do it also varies from generation to generation.

Gen X dads—who, according to Pew Research, were born between 1965 to 1980—tend to be managing more than one thing at a time. Also known as the "sandwich generation," they're navigating their children's education and upbringing while taking care of elderly parents.

"Being a dad comes with its own set of responsibilities—but where you are in life changes how you deal with them," says Harsh Gahlaut, co-founder and CEO of FinEdge, a financial planning platform.

For Gen X, It's About Caution and Stability

This is a phase where wealth preservation is priority. Majority of Gen X fathers are at the top of their careers and have high-ticket expenses like house buying, retirement, or medical bills. Therefore, money management in their case tends to be organised and risk averse.

"While high-ticket goals are looming on the horizon, wealth preservation is on their agenda and caution second nature," states Gahlaut.

Millennial Dads Take a Tech-Driven, Growth-Oriented Approach

Millennial fathers—who, according to Pew Research Centre, were born between 1981 to 1996— are at a different stage of life. Most of them are still working towards reaching their career goal and are still in the process of accumulating wealth. This group is less hesitant to take calculated risks, particularly for long-term purposes such as retirement or financing their kids' education in the future.

"Millennial dads, on the other hand, are still in the build phase— juggling between taking care of their young ones and setting goals to secure their future", say Gahlaut.

They also depend much more on digital resources. From budgeting software to SIP calculators and goal-based AI-advisors, technology is at the center of managing their finances. However, with that flexibility comes a willingness to view financial planning as a team effort. Millennial dads are more inclined to make financial decisions with their partners and educate their children about money matters.

Different Styles, Same Purpose

While millennial Gen X dads tend to go for tried-and-tested ways to grow their wealth—fixed deposits, endowment plans, or basic insurance products. Their financial attitude is influenced by an era of physical documents, manual monitoring, and long but secure returns. "Gen X prefers structure. Millennial dads prefer flexibility," says Gahlaut.

However, the gap between the generations isn't so great when it comes to purpose. Whether in conservative saving or aggressive investing, both cohorts invest for the same set of goals such as security and stability for the family. Gahlaut says that both Gen X and Millennial dads are driven by a shared focus on achieving goals and securing a stable future for their children and families.

Planning Is the New Parenting

This Father's Day, the approach might be different, but the motive is unchanged. From preserving wealth to generating it, fathers today are demonstrating that saving money is one of the longest-lasting expressions of love.