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$36,600 For Preschool Tuition

November 8th, 2006 at 10:03 am

I was running some number for my niece who is 16 months old and what her college is going to cost when I came across the LAUMC Children's Center in the area where I live. These parents must be the super obsessed types that you read about in the newspapers (or those in Japan) because they are paying $2,700 a year for a 2 year old's education (talk about starting them young) and $6,500 for a 5 year old's education. For the entire preschool (remember, the child hasn't even hit kindergarten yet) you're looking at tuition costs of $16,800 (better start saving the second the kid is conceived)

Of course, I did a bit more research and found that those numbers weren't anything. The Third Street Music School in New York charges $9,150 for 5 morning classes a week for a total of $36,600 for those 3 - 6 years old. I don't think my college education cost that much and there are certainly a lot of colleges where you could get a degree for less than that.

I'm thinking that maybe I should get into the prestigious preschool business...

Stay At Home Parent

July 1st, 2006 at 05:22 pm

Placed up a new article from Roger A. Sorensen who edits the Investing Page website on some issues to consider when deciding whether or not to be a stay at home parent. This is never an easy issue and while it should not be exclusively a personal financial question, money and personal finances usually are a big factor when making such decisions.

Children's Life Insurance

May 25th, 2006 at 11:04 am

I've argued in the past that I think that children's life insurance is something that the vast majority of people don't need and certainly one to place in the worst investment category. Every time I bring up this topic, there are always some that vehemently disagree with me on the topic.

If you still believe that you need children's life insurance even after my arguments, getting a policy for the child is still likely the wrong thing to do. Instead, a less expensive alternative is to purchase a child rider for your existing life insurance:

Most experts agree that purchasing a child rider for your existing life insurance is a much better solution (than buying children's life insurance). A rider is an extension that you can add to the other coverages listed in your policy. Purchasing a child rider is typically cheaper and will help cover funeral costs if the unexpected happens.

While I still think child life insurance is a poor use of money, if you do decide after doing the research to go that way, be sure to evaluate whether or not a child rider is a better alternative.