Sunday, March 04, 2007
The Million Dollar Baby: Are you parenting one?
In this Wall Street Journal (WSJ) there was a report on how much money is being spend on raising kids from age 0-17. Well though the Government numbers were respectable at $16,000 per year, WSJ identified the numbers in the range of 800K to 1.6 million dollars for the period of 17 years. And to top it all, these numbers do not include college education. Initially I was just 'WOW' but then things started to settle in. The example of $800 stroller ( my wife and I discussed buying one, good we just discussed), a $1000 birthday party with a mermaid theme ( attended one that very weekend where the birthday for a 4 year old had a princess theme with a dressed up princess, customized 30 goodie bags and a clown too), $ 3000 annual family vacation trips, $4000 braces treatment and the numbers start to make sense. These kids are surely pampered and I am indeed jealous. The reason this article grabbed my attention was that I have been blessed with an angel girl recently and just reading these articles and numbers blew me away. But on the positive side I said, if I can not be a millionaire, at least I will have the satisfaction of raising one :).