Coffee,how much are you willing to pay? Lot of new fandango coffee places to check out these days. Worth the money you pay for it?
Here is an article I found on “TheStreet” very interesting, if your serious about saving some cash and using it where it will benefit you, this might give you an “aha” moment. Splurging on a cup of coffee every now and then is good. Spending $3.00 or more on a cup of coffee a day–seems a little–well–foolish,unless you swimming in cash and don’t have to worry about money.
Compounding: One cup of coffee at a time
** Invested in a low-cost, diversified Roth IRA. The final account balance does not reflect any taxes or penalties that may be due upon distribution. Withdrawals from a Roth IRA are tax-free if you are over age 59½ and have held the account for at least five years; withdrawals taken prior to age 59½ or five years may be subject to ordinary income tax or a 10% federal penalty tax, or both.
This hypothetical illustration does not represent the return on any particular investment and the rate is not guaranteed.
By pocketing the $3.50 for coffee each day and investing it instead in a low-cost, diversified Roth IRA, you’d have an estimated $106,000 after 30 years.
What about that? What are your thoughts? Personally, I don’t think 30 years in advance, but luckily I can divide by two. $53,000.00 after 15 years still sounds good to me.
A little more information on investing.