Comments on: Does it Take a Million Dollars to Raise a Kid? http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Sat, 11 Feb 2012 20:32:19 +0000 hourly 1 http://wordpress.org/?v= By: Mighty Bargain Hunter » Roundup for week of 25 February 2007 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/comment-page-1/#comment-85201 Mighty Bargain Hunter » Roundup for week of 25 February 2007 Thu, 08 Mar 2007 04:27:23 +0000 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/#comment-85201 [...] All Financial Matters questions whether it really takes a million bucks to raise a kid. [...] [...] All Financial Matters questions whether it really takes a million bucks to raise a kid. [...]

]]> By: eR0CK http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/comment-page-1/#comment-84347 eR0CK Mon, 05 Mar 2007 16:33:13 +0000 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/#comment-84347 It's $1,000 today on a 5 year olds birthday and by the time the same child is ready to drive, what pray tell do you think they'll be expecting? I can assure you it's not going to be a used Chevy! It’s $1,000 today on a 5 year olds birthday and by the time the same child is ready to drive, what pray tell do you think they’ll be expecting?

I can assure you it’s not going to be a used Chevy!

]]> By: Miguel http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/comment-page-1/#comment-84334 Miguel Mon, 05 Mar 2007 15:22:46 +0000 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/#comment-84334 I am firmly of the mind that most of this extravagance is purely for the egos of the parents. Was recently visiting some relatives who gave an elaborate b-day party for their 4-year old. We're the god-parents and for the past two years, I've been trying to get them to draw up wills (they have none) and boost their life insurance policies. They claim to not have the time or money to deal with such matters as wills (so their child's future isn't left up to a judge) and life-insurance (so their child would have funds for college, etc. in the event they were orphaned). They plan to get around to it someday. But the b-day party is another matter - not much time or expense spared on that. Arrhhh... I just don't get it sometimes. I am firmly of the mind that most of this extravagance is purely for the egos of the parents.

Was recently visiting some relatives who gave an elaborate b-day party for their 4-year old. We’re the god-parents and for the past two years, I’ve been trying to get them to draw up wills (they have none) and boost their life insurance policies. They claim to not have the time or money to deal with such matters as wills (so their child’s future isn’t left up to a judge) and life-insurance (so their child would have funds for college, etc. in the event they were orphaned). They plan to get around to it someday. But the b-day party is another matter – not much time or expense spared on that.

Arrhhh… I just don’t get it sometimes.

]]> By: Paul http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/comment-page-1/#comment-84272 Paul Mon, 05 Mar 2007 11:56:16 +0000 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/#comment-84272 When my oldest was about five years old, my family took a vacation to San Diego. We went to Mission beach, the zoo, the Navy base etc. When we came home, I asked my five-year old daughter what was her favorite part of the vacation. She like the playground behind the hotel where we stayed. When my oldest was about five years old, my family took a vacation to San Diego. We went to Mission beach, the zoo, the Navy base etc. When we came home, I asked my five-year old daughter what was her favorite part of the vacation. She like the playground behind the hotel where we stayed.

]]> By: » Weekend Reading on Blueprint for Financial Prosperity http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/comment-page-1/#comment-83952 » Weekend Reading on Blueprint for Financial Prosperity Sun, 04 Mar 2007 17:35:24 +0000 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/#comment-83952 [...] Have kids? Hate taxes? Raising4Boys has a little Q&A about the 2006 Child Tax Credit that may be of interest. JLP writes about how it might take a million dollars to raise a kid? [...] [...] Have kids? Hate taxes? Raising4Boys has a little Q&A about the 2006 Child Tax Credit that may be of interest. JLP writes about how it might take a million dollars to raise a kid? [...]

]]> By: baker http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/comment-page-1/#comment-83801 baker Sun, 04 Mar 2007 09:22:26 +0000 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/#comment-83801 The problem with the chart, is it is derived from the top-third income (read the article!). That stuff seems excessive, because to the lower 2/3s, it *is* too much. The problem with the chart, is it is derived from the top-third income (read the article!). That stuff seems excessive, because to the lower 2/3s, it *is* too much.

]]> By: Keith Cash http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/comment-page-1/#comment-83716 Keith Cash Sun, 04 Mar 2007 04:39:23 +0000 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/#comment-83716 Might could see 200-350 for a party and gifts, not much more. Cheers Might could see 200-350 for a party and gifts, not much more.

Cheers

]]> By: fin_indie http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/comment-page-1/#comment-83653 fin_indie Sun, 04 Mar 2007 00:17:02 +0000 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/#comment-83653 Not exactly the best example to set for the kid, either. Not exactly the best example to set for the kid, either.

]]> By: db http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/comment-page-1/#comment-83530 db Sat, 03 Mar 2007 19:27:57 +0000 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/#comment-83530 I have one other reflection on this. You hear so many people talk about how expensive it is to raise a child. Looking at this article, it's easy to see why. While a lot of the examples would certainly be enriching, they also aren't necessary to raise a well-rounded child. (To take this argument to the less-enriching extreme, consider the chart's example that a teen girl would consume $4,000 in designer handbags during high school. Oh really?) It all ties back into the consumerist-driven societal pressure to spend with abandon. I am not saying a parent should never buy something extravagent for their child! (hint: JLP's Nintendo purchase isn't my beef.) However I think we would have a healthier society and healthier children if we doled out fewer extravagances overall. (Really, a teen girl has no need whatsoever for designer handbags.) And in the long run maybe we'd have a better perspective about what it costs to raise a child. I have one other reflection on this. You hear so many people talk about how expensive it is to raise a child. Looking at this article, it’s easy to see why. While a lot of the examples would certainly be enriching, they also aren’t necessary to raise a well-rounded child. (To take this argument to the less-enriching extreme, consider the chart’s example that a teen girl would consume $4,000 in designer handbags during high school. Oh really?)

It all ties back into the consumerist-driven societal pressure to spend with abandon. I am not saying a parent should never buy something extravagent for their child! (hint: JLP’s Nintendo purchase isn’t my beef.) However I think we would have a healthier society and healthier children if we doled out fewer extravagances overall. (Really, a teen girl has no need whatsoever for designer handbags.)

And in the long run maybe we’d have a better perspective about what it costs to raise a child.

]]> By: db http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/comment-page-1/#comment-83523 db Sat, 03 Mar 2007 19:18:00 +0000 http://allfinancialmatters.com/2007/03/03/does-it-take-a-million-dollars-to-raise-a-kid/#comment-83523 I guess I'm coming from the assumption that the mom is a spender, not a saver. I guess I’m coming from the assumption that the mom is a spender, not a saver.

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