2416 West Main Street
Visalia, California 93277

(559) 738-8600
info@hermeswealth.com

 

Money

The Half Million Dollar Baby

Infographic titled 'The Half Million Dollar Baby' with a navy silhouette of a seated baby. Text states childbirth costs an average of $18,865.Infographic titled 'The Half Million Dollar Baby' with a navy silhouette of a seated baby. Text states childbirth costs an average of $18,865.Navy baby bottle and parent-child silhouette flank text stating food costs average $3,249 per year, totaling nearly $60,000 by age 18.Navy baby bottle and parent-child silhouette flank text stating food costs average $3,249 per year, totaling nearly $60,000 by age 18.Navy silhouette of an adult and a stethoscope graphic. Text covers childcare costs of $5,357–$17,171 per year and medical expenses of $1,624 annually, exceeding $30,000 by age 18.Navy silhouette of an adult and a stethoscope graphic. Text covers childcare costs of $5,357–$17,171 per year and medical expenses of $1,624 annually, exceeding $30,000 by age 18.Graduation cap and baby shoe silhouettes accompany text on private college costs topping $56,190 per year and clothing expenses exceeding $2,347 annually, totaling over $42,000 by age 18.Graduation cap and baby shoe silhouettes accompany text on private college costs topping $56,190 per year and clothing expenses exceeding $2,347 annually, totaling over $42,000 by age 18.Car keys silhouette above text describing transportation costs averaging $2,708 per year, adding up to nearly $50,000 by age 18.Car keys silhouette above text describing transportation costs averaging $2,708 per year, adding up to nearly $50,000 by age 18.Navy crib silhouette alongside text on housing and furnishing costs reaching approximately $95,000 by age 18, with a bold callout that total child-rearing costs can exceed $500,000.Navy crib silhouette alongside text on housing and furnishing costs reaching approximately $95,000 by age 18, with a bold callout that total child-rearing costs can exceed $500,000.Sources slide listing three references: CreditKarma.com (February 2024), Investopedia.com (December 2023), and CollegeBoard.com (2024).Sources slide listing three references: CreditKarma.com (February 2024), Investopedia.com (December 2023), and CollegeBoard.com (2024).
 

Related Content

Glossary of Scam Terms

Glossary of Scam Terms

A helpful glossary of current scams.

Retirement Seen Through Your Eyes

Retirement Seen Through Your Eyes

What's your vision of retirement?

Insurance Needs Assessment: For Empty Nesters and Retirees

Insurance Needs Assessment: For Empty Nesters and Retirees

Do your insurance needs stay the same when the nest empties?

 

Have A Question About This Topic?


Thank you! Oops!

4 Steps to Protecting a Child with Disabilities

Planning for a child with special needs can be complicated, confusing, and even overwhelming.

Intellectual Property and Your Estate

Do you have intellectual property? Consider how you might include your IP into your estate strategy in this detailed article.

Succeeding at Business Succession

There are a number of reasons for business owners to consider a business succession plan sooner rather than later.

View all articles

Inflation & Retirement

See how inflation over time could affect the purchasing power of your retirement income.

How Long Will Your Money Last?

See how long a lump sum of savings could last based on your withdrawal rate and return.

My Retirement Savings

See how your current savings rate and contributions may grow into retirement income.

View all calculators

How to Bake a Pie-R-A

Roth IRAs are tax-advantaged differently from traditional IRAs. Do you know how?

Tuning Your Social Security Benefit

When should you take your Social Security benefit?

Exit Strategies of the Rich and Famous

Estate conservation is too important to put off. Do you have a smart exit strategy?

View all videos