It’s not always easy to give people advice because everything has its pros and cons and what makes one person happy won’t necessarily make another person happy.
For example you might preach that YOU MUST SAVE AND INVEST YOUR MONEY! But for someone else who really doesn’t care about financial independence they would find greater happiness in spending their money today on something and that actually does make them happier!
And he who is happier wins the game of life!
For example I know a guy who keeps increasing his mortgage to spend money on doing up old cars. He is truly happier doing this despite the opportunity cost of paying off his mortgage.
You could explain to him the thousands of dollars of time/money cost he is losing by doing this but you won’t get far. He would rather do up his old cars today then delay that to a later stage in life.
So as you can see everything has its pros and cons, what makes someone long term consistently happy is the main thing and this is why it’s hard to give advice especially if it’s one thing you are preaching.
Saying that, there are some no brainers out there where you can confidently say that it’s a bad idea.
Some of these things are drinking heavily every day, getting into street fights, crime, doing drugs every day and cigarettes.
These things are no brainers because they give you a tiny high or benefit but destroy your life and the lives of others.
In this article I will explain the true cost of smoking cigarettes.
Let’s start off with the benefits of cigarettes because we can sum that up in one sentence.
They make you feel good for a short amount of time (A few minutes)
Now let’s look at the cost.
We all know cigarettes are bad for you; there are numerous studies that show the average smoker’s life is 10 years shorter than a non-smoker.
Cigarettes increase your chances of many different types of cancer (especially lung), they increase your chance of heart attack and stroke among other illnesses.
It’s not natural to be inhaling all that smoke on a daily basis for years and years.
By now you should know the health risks of smoking cigarettes. If you want to know more about the health risks and the statistics of smoking simply google it.
Smoking also makes you have bad breath and affects your looks.
The main point I want to bring to light in this article is the financial cost of being a full time pack a day smoker. Because I haven’t seen that many post on it before.
Ok, so let’s assume a person smokes a pack a day at $30 a pack (Australian price) from the age of 20 to 50 (30 years)
Here is the cost
1 week of smoking cost $210
1 month of smoking cost $900
1 year of smoking cost $10,950!!
10 years of smoking cost $109,500!!!!
30 years of smoking cost $328,500!!!!!!!
That’s fucking insane!
That’s a lot of hard earned after tax dollars spent on shit.
Imagine what else you could have spent that money on! You could have
Paid off the mortgage
Travelled the world
Invest it and earn passive income
Use to set up a business
Spent it on high class escorts lol
Buy nice car/cars
Buy something else
But wait! There’s more!
The above example assumes we didn’t invest the money
In the below example I will assume we invested $900 into the stock market each month for 30 years at 8% return and I will factor in 3% inflation.
You ready for this? You sure lol?
After 30 years your investment will be $1,223,458!!
The present value of that investment adjusted for inflation would be $504,048!!
That’s a lot of money!
That investment will be easily pulling in passive 50k a year in the future which will be like getting 25k a year today (if you stopped reinvesting dividends after 30 years)
Plus you’ll have lots of years of good health ahead of you to enjoy the passive income.
Or you could just spend that money on something else, up to you!
I know a guy who smokes a pack a day and buys lottery tickets, stop smoking and there’s your lottery man!
I don’t know about you but I would prefer the money over a short term high, bad breath, bad looks and bad health.
Come on guys, I know it’s tough but please quit smoking, you can do it, I know you can!