RESPONSIBILITY OF CHILD-REARING
In his recent book, Costs of Children, economist Lawrence Olson reports that the average U. S. family should expect to spend $226,000 (in 1982 dollars) to raise a first-born son to age 22, and $247,000 for a first-born daughter. Low income families can get away with $121,000 and high income families will average $323,000. (The figures assume attendance at a private college or university for four years.) If you had $200,000 to invest, wouldn’t you do some careful research in advance and then watch that investment very, very carefully over the years? How much time, study, thought, and careful watchfulness do you exercise over these precious lives in which you will invest $200,000?
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