The Motley Fool writes about the impact of child care expenses on retirement planning.

When it comes to retirement planning, there’s one maxim that’s worth repeating a thousand times: The earlier you get started, the better. There’s no amount of ink that can be spilled to truly capture the power of compounding returns over time.

Knowing how important that early start is, unexpected expenses early in one’s working career can have ramifications that filter down for years to come. Shockingly, the one thing that young families across the nation spend the most money on every year comes as a complete surprise — and it’s not housing, food, college, or health care.

via The Unexpected, Enormous Expense That Throws Retirement Planning Out the Window (Hint: It’s Not Health Care).

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.