Tuesday, May 08, 2007

Million Dollar Baby Indeed

If Newsweek and a survey done by Salary.com are to be believed, the cost of raising a child to 18, costs $191, 000. Factoring in lost wages for a stay-at-home parent and college tuition raises the cost to a whopping 1.6 million USD. Thanks Newsweek. Now everytime I see someone's bundle of joy, deep within my brain lobes a bulb will light up and I will probably see dollar symbols flashing around. I could also day dream about all that money and what it could buy etc. etc.

Two other numbers from this report have branded themselves into my brain matter in a similar fashion. The kids centric industry is valued at 7.3 billion USD annually and lost wages for a stay-at-home mom are estimated at 138,095 USD annually. Good for the stay-at-home parent and really, really bad for the at-work parent who has to provide enough for both while also making significant contributions to the 7.3 billion dollar baby products industry.

Jokes aside, this raising a baby business must be one of the riskiest investments we humans make. There is practically no assured ROI and to top it all it might even cost you some more if your baby decides to grow up, stay at home and pursue a PhD instead of leaving home at 18 as the study so wisely assumed.

2 comments:

Ishan said...

Food for thought, while making babies.

Kaushik said...

On the other hand, if you don't have a child, you leave to the world only your materialistic possessions after your death. Not a very comforting thought.

Money can't buy the happiness of watching your child grow up. Unfortunately, the consumeristic nature of society leaves us with no other option but to value this invaluable relationship with money.