Sure, dads are priceless. Who else is going to kill flying stinging insects, plug leaky pipes and repair the family car?
For all that dad does around the house, Insure.com's annual Father's Day Index calculated his value for 2014: He's worth $24,103, up slightly from last year.
Dad's worth is measured by the typical household tasks he performs and the average wages paid for those duties based on data from the Bureau of Labor Statistics. Those jobs include plumber at $30.40 an hour; car mechanic at $17.85 an hour; maintenance worker (handyman) at $20.18 an hour; pest-removal technician (gross bug squasher) at $15.15 an hour; teacher (homework helper) at $26.38 an hour; laborer (moving furniture) at $13.10 an hour; accountant and auditor (paying the bills) at $31.70 an hour; and groundskeeper (snow removal, lawn mowing) at $10.28 an hour.
We appreciate dad immensely - and we should let him know year-round, not just on Father's Day - but his value lags behind mom's. For all the cooking, cleaning and other tasks that she does around the house, her value was pegged at $62,985 in 2014, according to Insure.com.
A holiday honoring mom came way before one honoring dad. President Woodrow Wilson signed a proclamation establishing Mother's Day in 1916. But it wasn't until 1966 that President Lyndon Johnson declared that the third Sunday in June would be Father's Day. President Richard Nixon made that proclamation permanent in 1972, according to the Library of Congress.
As Father's Day approaches on Sunday, nearly 1,000 dads were polled about what kind of gift they'd want. Among them:
- Dinner at a best restaurant: 31 percent
- A weekend family getaway: 27 percent
- Electronics: 26 percent
- Tickets to a show or sporting event: 26 percent
- A weekend getaway with the wife: 25 percent
- Power tools: 21 percent
Also of Interest
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- Fight fraud and ID theft with the AARP Fraud Watch Network.
- Join AARP: savings, resources and news for your well-being
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