OH BABY!

In 1960, the USDA’s first “Cost of Raising A Child” report estimated “a middle-income family could have expected to spend $25,230 ($198,560 in 2013 dollars) to raise a child until the age of 18.” Today, the U.S. Department of Agriculture reports that the average cost for a middle-income two-parent family to support a child through school is $245,340 (or $304,480, adjusted for projected inflation). Source: Huffington Post

As if financial planning weren’t subjective enough, you’ll want to consider a few different obstacles that are different for those starting families later in life.