Smoking One Pack a Day Could Cost $408,480.32 in Retirement Savings
Gene Jolley, President of Kingdom Financial Principles and creator of The Rapid Debt Reducer software, is helping people to end financial slavery and enjoy life.
Groton, VT (PRWEB) May 18, 2005 -- Gene Jolley, President of Kingdom Financial Principles (www.SoLongBills.com) and creator of The Rapid Debt Reducer software, is helping people to end financial slavery and enjoy life.
Everyone is aware of many of the costs of smoking. Recent studies have measured the costs to a person's overall health, in that person's life expectancy and in the costs to society. Seldom are we made aware of one other cost, that being the cost in actual dollars, to us personally.
The true financial cost of smoking just one pack a day is astounding. It is easy to calculate that at $4 for one pack of cigarettes the cost for one year is $1460. Over the course of a lifetime of smoking, estimated at forty years, the cost would be $58,400. Using a projected interest rate of eight percent compounded annually with a yearly contribution of the $1460, into a tax deferred savings account such as an IRA or 401K plans over those 40 years, our ex-smoker would have $408,480.32 saved for retirement. This is without even taking into account the rising cost of cigarettes! That's the power of compounding interest working for you instead of against you. It is one example of how it only takes a little savings each week to make a big difference in future financial security.
SoLongBills.com is a family owned and operated company that teaches and assists people to get completely out of debt. Jolley is a Certified Financial Independence Consultant and Seminar Leader, having taught hundreds of people debt elimination concepts in seminar settings and one-on-one consultations. He takes particular pride in helping others eliminate their debt. Having applied these strategies in his own life, he teaches from a point of personal experience, not theory.
For more information, see attachment or visit www.SoLongBills.com.
Contact:
Gene Jolley
Kingdom Financial Principles
877-584-0536
http://www.solongbills.com
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