Although in desperate need of updating, the USDA Expenditures on Children by Families 2015 (links below) will be very useful in your analysis or determination of the cost to raise a child.
The Cost of Raising a Child | USDAExpenditures on Children by Families, 2015 (azureedge.us)------------------------------
Alicia R. Hiles, MA, MS, CRC
John Ward Economics/Hiles Consulting
Shawnee Mission, KS United States
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Original Message:
Sent: 05-24-2022 10:12
From: Daniel Baierl
Subject: Cost of raising a child
Have any Life Care Planners ever had a case where you were asked to account for the cost of raising a child? I have a medical malpractice case involving a 23 year old single mother of a 3-year old. Tragically, the mother passed away. In addition to providing an earning capacity, I was also asked to determine if the cost of raising the child (now being borne by the grandmother), can be determined. I thought of including costing for 128 hours/week of child care (assuming an 40 hour/week work schedule) through age 18. I also considered looking at studies performed to quantify the costs of raising children through age 18 but that may include ancillary costing such as food and clothing that would have been required regardless of the mother's death. Any thoughts? Thanks in advance.
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Daniel Baierl
President/CEO
danbaierl@comcast.net
Irwin, PA United States
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