0

I've been reading about 4% rule and about saving well and so on. My current savings rate is decent I think. However, we do plan on having a kid in the near future. I am not really sure what our savings rate will be then.

Articles that I read online seem to indicate that kids are really expensive -- they are expensive when they are infants, expensive when they go to college etc.

What is the realistic number for expenditure for kids?

Specific details about my situation:

  1. One kid
  2. Exclude college costs (I will estimate that to be 250k)
  3. Living in Seattle USA
  4. Exclude Nanny
  5. Include food supplies clothing
user855
  • 233
  • 1
  • 5

1 Answers1

1

Periodically, there's a news article (Time Magazine, etc.) detailing how much it costs a middle income family in the USA to raise a child to age 18. I don't know the latest numbers but the last time I read one, it was about an average cost of $250k. Of course, location matters. It's more expensive in the northeast and on the west coast than in the south and in rural areas.

For more accurate numbers, go to the US Department of Agriculture web site. They make the annual calculation and supposedly, there is an interactive tool there for inputting specific details.

Bob Baerker
  • 77,328
  • 15
  • 101
  • 175