Nearly 1 in 4 childless millennials and members of Generation Z said they don’t have children now, and they don’t plan on having them in the future.

A study from MassMutual found that 23% of the child-bearing cohort without children don’t have any plans to change their state of affairs. Of these, 43% cited financial reasons. The study didn’t distinguish between those who don’t want children because they can’t afford them and those who want more “financial freedom.”