Cost per child is $300k, $400k including college. The state (which means workers’ taxes) chip in an average of $17k / year for k-12 which is another $200k. That’s $600k per child, not including the free labor from the parents.
The average savings for someone 65-74 is $200k. End of life costs are $155k for the last 3 years.
I suppose if you are just thinking about things like cost of formula, diapers, clothes, education. In terms of time spent, children take less and less one on one time as each year passes. They have a finite timeline of required care.
The elderly become less and less independant, the care they require becomes more and more medical in nature, and there is no timeline. Someone with dementia can require around the clock medical care for decades.
Children need more resources to raise than seniors take.
Not really. The unique expense for a kid is education compared to the old, and elder care can easily eclipse that.
Cost per child is $300k, $400k including college. The state (which means workers’ taxes) chip in an average of $17k / year for k-12 which is another $200k. That’s $600k per child, not including the free labor from the parents.
The average savings for someone 65-74 is $200k. End of life costs are $155k for the last 3 years.
I suppose if you are just thinking about things like cost of formula, diapers, clothes, education. In terms of time spent, children take less and less one on one time as each year passes. They have a finite timeline of required care.
The elderly become less and less independant, the care they require becomes more and more medical in nature, and there is no timeline. Someone with dementia can require around the clock medical care for decades.
Yes, the medical care is 1000x more than cost of food and things.
An infant requires more constant care than a dying elderly. Parents are on rotation 24/7 for the first year. That’s more than elderly get in hospice.
Moneywise it’s $600k for a child. $400k from parents. $200k from the state for the free k-12 education.
Elderly on average have $200k in savings age 65-74 and spend $155k in medical costs their last 3 years.
Children are more expensive in money and direct labor.
Not with modern lifespans, 75-95 take a ton of care and are unable to contribute
Average 64-75 have $200k savings and spend $155k for last 3 years.
A child takes $600k. ($300k from parents. $100k college. $200k paid by state to cover the free k-12.)
yes and theres more old poeple than children, thats like, the whole point of the post??