Cost of Raising A Child

Cost of Raising A Child

According to the USDA findings released in January 2017, the cost of raising a child has grown to -gulp- $233,610. The cost of nearly a quarter million dollars is based on middle income families with a child born in 2015, through the age of 17. This ticket price does not include college cost. Nor siblings. Yikes.

Would you be able to provide for your children on one-income should the unspeakable happen to your spouse? Or as an established one-income family, how would you lessen the financial burden if tragedy struck your household earner?

If you’re like me, you’re now calculating the math. “$233,610 for one child through age 17 equals $13,741.76 per year. (Per child, mind you.) I certainly am not spending that much on my little human.”

Hold that thought, because the estimate produced by the USDA calculates the cost of that extra bedroom in your household. The cost of transportation and vehicle maintenance while driving your child to after school hockey practice. And sleepovers. And swimming lessons. And camp. The cost of food, of childcare, diapers, healthcare, clothing.

Now it is making sense.

Life insurance can be an unpleasant topic; don’t allow the taboo to blindfold you. You can help your family succeed in the event of unspeakable tragedy.

Let’s chat. Our team at Hanlon will walk you through the process, answering your questions and always maintaining respect and confidentiality.

 

 

 

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