I said unique, old people need a lot of health care, generally way more than a kid. Most kids after birth just have routine checkups and not much else. Infants might get a bit more doctor visits because the parents don’t know if they should worry or not because the infant can’t speak, but generally even those amount to nothing.
Babies more universally need diapers than old folks, and do eat more than an older person, but health care is absolutely bigger for elderly.
Cost per child is $300k, $400k including college. The state (which means workers’ taxes) chip in an average of $17k / year for k-12 which is another $200k. That’s $600k per child, not including the free labor from the parents.
The average savings for someone 65-74 is $200k. End of life costs are $155k for the last 3 years.
So you just said about 20 years of life is only twice that of the last three years of life for your starting figure. Add in college and it’s still not that egregiously more.
You feel the need to add public school costs, but not add in medicare, social security, and other expenses exclusive to old age.
Medicare and SS are prepaid. So you need to figure out the difference between if that money was invested instead of taken in taxes. Then it would be the amount that retires take over that amount.
Only one in three Millennials have gone to college, so you’ll need to pro-rate this. You’re also talking about a population that begun employment between 14-17, even in an advanced economy like the US. So that cost is offset by revenue, especially in those later years.
Not really. The unique expense for a kid is education compared to the old, and elder care can easily eclipse that.
Young kids require a lot of health care, tbf
I said unique, old people need a lot of health care, generally way more than a kid. Most kids after birth just have routine checkups and not much else. Infants might get a bit more doctor visits because the parents don’t know if they should worry or not because the infant can’t speak, but generally even those amount to nothing.
Babies more universally need diapers than old folks, and do eat more than an older person, but health care is absolutely bigger for elderly.
Cost per child is $300k, $400k including college. The state (which means workers’ taxes) chip in an average of $17k / year for k-12 which is another $200k. That’s $600k per child, not including the free labor from the parents.
The average savings for someone 65-74 is $200k. End of life costs are $155k for the last 3 years.
…uhh… do you have ANY citation for those numbers?
https://www.cbsnews.com/news/cost-to-raise-a-child-300000-us-state-by-state/
https://educationdata.org/public-education-spending-statistics
I used low numbers of ranges and rounded down.
So you just said about 20 years of life is only twice that of the last three years of life for your starting figure. Add in college and it’s still not that egregiously more.
You feel the need to add public school costs, but not add in medicare, social security, and other expenses exclusive to old age.
Medicare and SS are prepaid. So you need to figure out the difference between if that money was invested instead of taken in taxes. Then it would be the amount that retires take over that amount.
Please show numbers!
Only one in three Millennials have gone to college, so you’ll need to pro-rate this. You’re also talking about a population that begun employment between 14-17, even in an advanced economy like the US. So that cost is offset by revenue, especially in those later years.