Our chapter presents an examination of how preferences for rearing children affect fertility and income growth. As described in reports of the related literature, an aging society with an increase in life expectancy reduces fertility because the preference for children decreases relatively. However, in a model with the endogenous child care service price, a decrease in preference for children does not always reduce fertility because a decrease in the price of child care services raises fertility. The subsidy for child care services increases both the share of using child care service and the labor share of the child care services sector. Then, the wage rate of the child care services sector rises, too.