Our Daily Bread, quoted in Homemade, Vol. 11, No. 4 (April 1987)
Economist Lawrence Olson cited some shocking figures about how expensive it is to raise children. He estimated that the average cost, taking into account low-income and high-income families, to feed, clothe and educate a firstborn son is $226,000. And if that baby happens to be a girl, the expense would be $247,000!
Reflecting on those figures, Steven Cole commented, "If you had $200,000 to invest, wouldn't you do some careful research in advance, and then watch that investment very carefully over the years? How much time, study, thought and watchfulness do you exercise over those precious lives in which you invest $200,000?"