The other day, the federal government released a headline grabbing report: The average out-of-pocket cost of raising a child from birth to age 17 is about $234,000.  Among families where an older adult has severe long-term care needs and uses paid care, out-of-pocket costs average $140,000, according to research by my Urban Institute colleague Melissa Favreault.  That enormous cost is generally spread over much less time, typically four years in contrast to 17.

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