My Goal

It costs a quarter-million-dollars to raise a child not including college. I don’t have a child so money is going to be invested and I will have my 1st million by 40 :-)

I’m turning 30 so looking back on my 20’s I have realized I wasted lots of money on stuff I don’t even have anymore. I used to have societies dream with the house, nice car, awesome entertainment system, and every electronic device you could imagine. When I was 28 my heart was ripped out through my ass and shoved down my throat so I walked away from all that “stuff” and did not even ask to be paid back (that’s another blog). The things I have now are mostly things I need but I probably could cut some stuff out. The things I should not be spending money on now are trips and going out but I consider that living life. I can live my life in a cheaper manner.

In one of the classes I just took I had to read an article about how much money it costs to raise a child. $204,060 is spent on one child for food, clothing, and shelter up until their 18th birthday. This estimated amount does not include health and education costs. That’s the cost of a house and if you own a home then that’s like paying for a child! Anyway, I thought to myself that I am probably not going to be having any children so I have lots of money which I spend on activities and shoes. I really should be taking that money and investing it. My goal is to be as close to a million dollars by the time I am 40.

I have always considered myself a practical person and I never really overspent or ran up my credit cards so this should be easy right?

www.cnpp.usda.gov/Publications/CRC/crc2007.pdf
http://usgovinfo.about.com/b/2008/03/28/the-cost-to-raise-a-child-today.htm
http://moneycentral.msn.com/content/CollegeandFamily/Raisekids/P116306.asp