Would you smoke a million dollars? How to retire rich.

retire rich

Would you smoke a million dollars? How to retire rich.


So I have to start this my saying I am not a smoker and haven’t really ever seen the attraction to it but I have had my vices. My fiancé and I where talking in the car the other day and I busted her chops about how much she used to smoke and jokingly said she could probably be retired by now, which got me thinking.


Let’s do the math…


I know people have done this with coffee and called it the “latte factor” but for my own curiosity I wanted to see just how much smoking has cost her.


She started smoking around the age of 17 and we where in New York back then so cigarettes where a bit more money than most other places in the country. But let’s just say one pack a day at $5 per pack for 18 years….. 18 x 365= 6570 packs smoked times $5 equals


$32,850 total money spend!


Now I didn’t stop there of course, lets say that money was invested instead over that period of time.

Starting with the first year of $1825 and adding that amount every year in an 8% return account for 18 years equals….




But where not stopping there, we are just stopping the annual contributions since she stopped smoking but we leave that money in the retirement account for another 32 years which would put her at 67, the recommended retirement age and her grand total would be, wait for it……


$965,002.07!retire rich


Wow! Almost a million dollars up in smoke.


Again, I have my vices as well and I get we have to spend some of our money while we are here on this earth. This article is more intended to outline the power of compound interest over the years and the fact something as simple as $5 a day early on in your life can make you a millionaire is pretty awesome. So take a look at your daily spending and see if there is anything you can cut back on and divert it into your retirement now to reap the benefits in the future.

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