Here's something to think about before you have a kid: You could instead buy a sweet condo in Florida to retire to.

Merrill Lynch has released their annual report on the cost of raising a child in America. To raise a child from birth to age 18 it costs $230,000 and that doesn't include college.

The main reason the cost is so high is because parents feel more pressured to buy their kids the stuff that other children have.

People are aware that being a parent is expensive going in, what they don't realize is just how expensive it it. 73% of the parents surveyed say they weighed the financial aspect before having a baby. Still 90% were surprised by how much it actually cost.

There is a bright side, 94% of parents say it's worth every single penny. Makes you wonder about the 6% of parents who do not feel that way.