Most pay into their kids' futures before their own

Three in 10 American parents take care of their children first before putting money into their own retirement, according to a new report by Massachusetts Mutual Life Insurance Co.

“As a nation, we are becoming incredibly diverse in terms of age, ethnicity, attitudes and experiences; you no longer can put a face on America – because there are so many different faces,” said John Chandler, senior vice president and chief marketing officer for MassMutual. “The State of the American Family research platform helps foster a deep understanding of today’s diverse families, trends that may shape them in the coming decade and factors that affect their dynamics and interactions on matters financial and otherwise.”