A growth has been recorded in the trend of having three or more children among the wealthiest families in America. According to a report by Axios, nearly half of the families among the top one percent of the wealthiest in America have three or more children.

Among lower-income groups as well, families with three children account for approximately 40 to 43 percent. This trend of having more children among the wealthy has been ongoing since the 1990s.

Cost of raising children in the US

According to a LendingTree report, raising a child up to the age of 18 in America costs an average of three crore rupees. The average expenditure for raising a child during the first five years is approximately 26 lakh rupees per year.

Additionally, during the ages of six to 18 years, the average annual expenditure drops to approximately 10.7 lakh rupees.