Protecting our most precious ‘investment’

At this time of year, our thoughts turn to personal finances, budgets, tax savings and planning for the future.
We look at our family members, not as unique individuals, but as sources of deduction - write-offs if you will.
All of this in an often feeble attempt to keep more money in our pockets.
Financial “experts” talk about our biggest personal investments - our home, new car, vacation residence and retirement savings.
Search newspapers, advertisements and websites and you’ll find plenty of information on the above.
But it seems we’re overlooking our actual biggest investment responsibility.
This “asset” isn’t the most expensive, but it’s the most precious. It costs about the same as a fancy, European sports car or a modest, older home.
It starts small, doesn’t come with a warranty or any instructions and depreciates almost the second you get it home. It’s costly, and provides nothing in terms of an ROI for at least 20 years. It’s high maintenance and must be watched around the clock. And there’s very little peace of mind associated with this commodity.
Why would anyone in their right mind want to invest is something like this?

“Children are our most valuable resource.” - Herbert Hoover, 31st U.S. president

You may have guessed it by now. The most valuable investment in our short, humble lives - our children.
According to the U.S. Department of Agriculture, the cost of raising a child to the age of 18 is now a breathtaking $226,920. I’m sure the figure is comparable here in Canada.
Ferraris, Porsches and Bentleys are all well and good, but they too, depreciate very quickly. Of course, like a proud parent, you love them, baby them and show them off for the world to see.
Of course, there’s a very real cost associated with owning one of these automobiles, and like our offspring, these may live in your garage well beyond their 18th birthdays!
So, fellow parents, we have to weigh the pros and cons - the profit and loss - of our creations.
Thankfully, we don’t have to take out a loan to have a child (okay, maybe a small one).
Does that amount seem daunting, especially when families have three and four children? Maybe a bit, but there tends to be a bit of a discount on multiple children!
This figure hasn’t changed much over the years.
Back in the 1960s, the cost to raise a child through 18 was just under $200,000 (in today’s dollars) or 450% of a year’s income.
But, just how and where we spend the dough has changed dramatically since those colourful days of peace and love.
Child care has risen dramatically; food, clothing costs are much higher; there are modern toys like cell phones and personal devices, etc., etc.
And the hammer falls when you consider the costs of post-secondary tuition, which has skyrocketed in the past 20 years.

“No one has yet fully realized the wealth of sympathy, kindness and generosity hidden in the soul of a child. The effort of every true education should be to unlock that treasure.” - Emma Goldman, author

So, what if we pump everything we have into this precious cargo, and we get a “lemon?” Kick the tires all you want, no one will take it back!
Just how do we leverage the contents of our human portfolio? Well, we try to arm them with all of the knowledge, advice, tips and information they need to assert themselves and make inroads in this ever-changing world. We give them tools and show them how to use them.
We try to mold them, and encourage them to be well rounded, to be involved in individual and team sports to learn skills, cooperation and discipline. We allow them to explore their creative sides by taking dance and music lessons. We support them in organizations that teach service to our fellow men and women. We force them to do homework and pursue a higher education, putting away what we can to cushion the post-secondary blow. (Did I say we didnt’ have to get a loan to have a child?)

“I continue to believe that if children are given the necessary tools to succeed, they will succeed beyond their wildest dreams!” - David Vitter, U.S. senator

We do all of these things for very selfish reasons, but not to get rich. We do this, I believe, to not only add new, personal dimensions to the fabric of humankind, but to leave some sort of legacy, a faint echo of ourselves, long after we’re gone.
Great if our kids can carve out their own niche, climb the corporate ladders and establish themselves as leaders of the pack. Equally fine if they can become loving spouses, compassionate parents and kind souls.
You can’t put a price on your child’s smile; hug; hastily crafted birthday card; watching them perform in their school concert, or scoring their first goal.
Financially, it’s a losing proposition.
But worth every penny!