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The real cost of raising a child? About $1.4 million dollars

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Reported by Liku Zelleke

Ever since news reports came out that suggested having a baby and raising it to 18 years would cost an average American family a total of $245,340, it looks like people have taken note of the fact and started to do some serious thinking.

While many sites have taken the information and written about the reasons why it was becoming so expensive to raise a child or what could be done to save on doing so, one unique article has focused on another angle: what the actual cost would be  – if the money had been invested for 18 years, for example.

While others were pondering the direct investment in the child and its upbringing, an article by Matt Krantz on USA Today is asking what if the child had never been born and the $245,340 were invested in various schemes – what would the money be worth in 18 years?

Having a child can provide a lifetime of joy,” Krantz writes. “But we’re just talking hard numbers here. Let’s see how that $245,340 could grow using a variety of portfolios.”

READ MORE via Financial Juneteenth | The real cost of raising a child? About $1.4 million dollars.

454 Comments

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