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What would you say the lifetime cost of raising your two children conception -> college is roughly? https://business.time.com/2009/09/18/1-1-million-cost-to-ra

What would you say the lifetime cost of raising your two children conception -> college is roughly? https://business.time.com/2009/09/18/1-1-million-cost-to-raise-a-child-from-birth-through-college/ https://business.time.com/2009/09/18/1-1-million-cost-to-rai... Article from 2009 says $1.1m > When you add it all up, it’s not uncommon for a single child to cost a normal, middle-class family something like $1.1 million, from birth through the undergrad years.

toomuchtodo 4y ago
Brookings says it’s about $310k per child for a family with 2 children, without including daycare or higher ed costs [1]. US median lifetime income is roughly $1.65 million [2]. Daycare averages somewhere between $10k-$15k/year per child [3]. In state public school tuition is ~$100k for 4 years [4]. Median sales price of a house is ~$425k [5]. Total cost of that house with mortgage interest and taxes over 30 years is roughly double that. [1] https://news.ycombinator.com/item?id=33879844 https://news.ycombinator.com/item?id=33879844 (courtesy u/lotsofpulp) [2] https://repository.library.georgetown.edu/bitstream/handle/10822/559300/collegepayoff-complete.pdf https://repository.library.georgetown.edu/bitstream/handle/1... [3] https://www.americanprogress.org/article/understanding-true-cost-child-care-infants-toddlers/ https://www.americanprogress.org/article/understanding-true-... [4] https://educationdata.org/average-in-state-vs-out-of-state-tuition https://educationdata.org/average-in-state-vs-out-of-state-t... [5] https://fred.stlouisfed.org/series/MSPUS https://fred.stlouisfed.org/series/MSPUS
culopatin 4y ago
That’s 50k a year from birth to 22, I don’t need to explain how this doesn’t make sense