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| Jade Amber |
At AOL (that's still a thing?) Your Coffee Habit is Costing You $1 Million, Says Suze Orman
Finance coach Suze Orman says your coffee habit is costing you at least $1 million.
In fact, consider this. Right now, the average cup of coffee can cost about $7. If you got coffee once or twice a week, it’s not too bad. But if you’re doing it every day – which many of us do- it’s costing you $210 a month, and $2,520 a year. “It would be one thing if you had a cup of coffee once a week, maybe three times a month, but that’s not what you do. You go in every single day,” she added, as quoted by Yahoo Finance. While $2,520 may not sound like a lot, if done over 40 years it’s $100,800 for coffee.
Instead, according to Suze Orman, “$100 a month in a Roth IRA, over 40 years is $1 million. So, you need to think about it as you are peeing $1 million down the drain after you are drinking that coffee. If you just simply used your money to purchase needs versus wants, you would find the money to invest in your retirement account.”
Bugger off, Suze! We made money so we could enjoy things, not die on pile of cash. Besides, we make our own coffee, so it's nowhere near $7 a cup.
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