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Cost to Raise a Child Over 21 Years Amid Rising Expenses
Dear readers seek long range estimates for a child’s costs from infancy to college. Institute of Life Insurance data suggest three and a half times current average family income to raise a child to 18, with college costs rising beyond 1967 levels. Private college tuition adds about 2,100 yearly, with books, transportation and misc expenses. Advice emphasizes planning with a broker and attorney to tailor a financial plan and trust allocation.
MENTIONED IN THIS ARTICLE
Highland Park
Ill
Institute of Life Insurance
Institute
Bureau of Labor Statistics
Louis I. Dublin