What are the costs and benefits of having kids?

Answer 1

Wow, that's a big question. I have 3, two are out of the house now, the 3rd is still in college and living here.

College is a big part of it, if you plan to pay for them to go you can figure $40,000 per kid just for that at CURRENT prices for a lower tier university, or as much as $100,000 or more for the better ones.

Cost for getting them through high school starts with diapers, formula, and baby food, then clothes, and all the toys. It would be hard to pin down a figure since it can vary according to taste and where you live, not to mention inflation, but I've seen figures of about $200,000 per kid to age 17.

Any financial benefit is going to be limited to what they will do for you in your old age, and whether you need help then. For example, we spent a lot of time and money with my mother-in-law when she became unable to care for herself until we got her onto Medicaid.

I suppose if your kid grows up to be rich and you are on social security they could end up paying all the cost back. You do get some tax advantages but that's minimal.

The real benefit from having kids is very hard to put into words. People that have no kids will never miss it, but most of us that do would never change it for the world.

The first and most obvious is the perpetuation of the human race. While there may be overpopulation issues in some places, the fact is that without children we would eventually become extinct.

Then it provides a common bond that strengthens your marriage/relationship by having such a big responsibility to care for someone that you created together. Yes, I know that divorce argues against that one, but we've been married 33 years.

You learn to be unselfish. I know people without children that take several nice vacations a year, with 3 kids unless you are rich you have to make sacrifices and do without some things to provide for them.

Then I think it makes you better in general, having kids makes you laugh and cry, do more activities to keep in shape, they help you learn about yourself, they are a lot of fun, and you will have more people that really love you.

While there are trying times like a vomitting kid in the middle of the night, there are occasions like the birth, baby's first word, first steps, high school graduation, and wedding that one has to experience to understand.