So I was suffering from a bit of insomnia the other night - and wound up in front of the TV from 3 - 5 a.m. At some point, I was watching the Early Today show - and they mentioned that the cost of raising a child, (one mind you), is now $286,050 NOT INCLUDING COLLEGE TUITION, which is another $127,000. That $286,050 only covers costs through the age of 18 as well, and given that the economy has sent many "children" back to their parents homes post-college and beyond, I have a feeling the investment might far greater than that.
To boot, a 4 year-college degree doesn't even seem to cut it anymore in many job markets, but that's another rant.
So this is where I'm really confused. How on earth do people afford this child thing? Albeit, John and I live in Los Angeles, which is an expensive city - and one in which we have, thanks to our lovely economy, taken a financial beating, but I mean even by small-town standards, that's a lot of dough. I understand that it's eked out over the course of 18 + years, but it's still $15,891.67 per year. Look, we're getting back on our feet financially, which is nice, but I cannot even begin to fathom when we'd even be able to handle that kind of expense. And, if we go the adoption route, you can tack on another $20,000 - $45,000 depending on a variety of factors. That's the down payment to adopt a kid... 1 kid.
People who are parents always say, "You figure it out," "You just make it work."
I'm wondering if it's really that easy, particularly these days...
