Addressing the challenge of an aging population, retirement financial strategies are crucial, affecting not only the quality of life but also the economic security of middle-aged and elderly individuals. This study utilizes data from the 2020 China Health and Retirement Longitudinal Study (CHARLS) to explore the impact of children’s structure on the retirement financial intentions of the middle-aged and elderly. It reveals that the number and quality of children, including their education level and economic status, significantly influence the acceptance and preferences for retirement financial instruments among the middle-aged and elderly. Therefore, it is imperative for researchers to consider the retirement financial intentions of this demographic and develop more personalized and flexible retirement financial policies. Additionally, enhancing retirement financial education can improve the elderly’s understanding of financial products, ensuring their economic security and achieving a comfortable and secure old age.