There are numerous reasons why the retirement savings of so many Australians are inadequate. One is the sheer cost of bringing up children.
It costs a breathtaking $812,000 to bring-up two children in a middle-income family, estimates a new report by the National Centre for Social and Economic Modelling (NATSEM) at the University of Canberra. The costs have risen is from $537,000 five years earlier.