Showing posts with label smoking. Show all posts
Showing posts with label smoking. Show all posts

Wednesday, July 15, 2009

How much is that pack of cigarettes - Part 2

Back in May a year ago, I posted this entry about the cost of a pack of cigarettes. I showed how a pack a day, started at age 15 continued until retirement could cost you up to $1.6 MILLION.

Turns out, I may have UNDERestimated. This story, tells about a man who used his debit card to buy a pack and was charged slightly over 23 QUADRILLION dollars. Well, actually it was 148 trillion over, but what's a few trillion when you get that high?

After a while, he was able to convince Bank of America that this was an error and they resolved the problem. But it makes me wonder, how many packs could he have purchased for that much?

I heard this story on the radio today, then captured the link from Adam. Thanks Adam! Guess it's time to redo my spreadsheet.

At least we can be thankful that the debt hasn't climbed that high yet.

Wednesday, May 07, 2008

How much is that pack of cigarettes?

I got this idea from Dave Ramsey. I've changed the numbers some, but the results are still pretty impressive.

Suppose that a 15 year old decides NOT to start smoking a pack of cigarettes a day and instead puts that money into a decent investment. Do you know how much he would have at retirement?

Take a deep breath - it's $1.6 MILLION.

That's not including any savings on life insurance or doctor bills or inflation (all of which are real and VERY likely). That's assuming a 10% rate of return.

The spreadsheet is available if you want it.