Apparently the average cost is $233,610. If you save all of that and assume that the child is 18 when the parent is 45, then there’s another 20 years til 65, which is enough to more than double. So $500,000+ extra at retirement per child, or about $20k spending per year (if you can delay in-home care for 10 years and use higher estimates, its as much as 45K/year extra). Apparently average cost of in-home care is ~$60k/year. So not having 2 children and saving all of the difference could make-up for that.
Plus have to consider that a child more likely than not isn’t interested in being your in home caretaker for many years straight, not to mention potentially not being qualified for it (so you would need some sort of actual caretaker anyway).
Apparently the average cost is $233,610. If you save all of that and assume that the child is 18 when the parent is 45, then there’s another 20 years til 65, which is enough to more than double. So $500,000+ extra at retirement per child, or about $20k spending per year (if you can delay in-home care for 10 years and use higher estimates, its as much as 45K/year extra). Apparently average cost of in-home care is ~$60k/year. So not having 2 children and saving all of the difference could make-up for that.
Plus have to consider that a child more likely than not isn’t interested in being your in home caretaker for many years straight, not to mention potentially not being qualified for it (so you would need some sort of actual caretaker anyway).