So you need to be a millionaire? If you smoke or are considering it – I'll give you at least $1 million reasons not to start. For the sake of discourse, I am going to use me as an example. I have smoked for over 20 years and honestly I enjoyed it. It was not till I ultimately got it through my head about the health dangers to me, my family and the skyrocketing costs that I finally made a decision to give up.
You all know or should know about the possible risks to health and I won't rehash it. What I would like to chat with you about is the financial impact. I smoked 2 packs of cigarettes per day and on a good Friday night out on the tiles it may infrequently be as much as 3 packs.Ok.. Here it comes. 2 packs of cigarettes every day at a standard value of $3.50 per pack multiplied by 7 days equals $49.00 per week or $2555.00 for one year. Now lets take a teen at age 18 who begins to smoke and lets also assume they were to stop at age 65 on retirement which is 47 years. 47 years x $2555.00 = $120,085.00 spent on cigarettes at todays prices.
Now 1 hundred and 20 thousand greenbacks is itself not quite enough to make you rich but you could buy some nice stuff for that amount. The magic is in a little thing called compounding interest. Presuming that instead of smoking – You took that same 2 packs every day or 7 dollars and invested it in a hedge fund. Let’s also assume that you invested it in an index mutual fund which over the life of the stock market has averaged 10% per year. After 47 years you would retire with $2,730,489.02. That just about $3 Million greenbacks. How is that for a motivation to not smoke?
What about the rest of us who've smoked for 20 and years? A man or woman who quit at age 40 under the same eventuality who save $282,615.51. Now that is not 1,000,000 dollars but it would still get a fairly nice home. What's rather more amazing is that these figures are based mostly on today’s costs and do not even account for inflation over the same amount of time.Even if you are not especially interested in investing the cash saved from smoking then think about this: $2555.00 applied one time each year to a $200,000.00 mortgage would cut 10 years off of a 30 year loan. You'd be paying your house off in one-third the time.
The bottom line: If your wellbeing and family aren't enough to make you stop – Think about why your not living opposite the rich and renowned. I hope this gives you food for thought about all of the extras in life you are giving up by smoking.
Read our electronic cigarette reviews.
Check out our V2 Cigs reviews or our Premium E Cigarette reviews.