A quick reminder to use time to your advantage :) Courtesy of an awesome post I read over at The Motley Fool – Happy New Year!
There’s an old story about a guy taking a smoke break with his non-smoking colleague.
“How long have you been smoking for?” the colleague asks.
“Thirty years,” says the smoker.
“Thirty years!” marvels the co-worker. “That costs so much money. At a pack a day, you’re spending $1,900 a year. Had you instead invested that money at an 8% return for the last 30 years, you’d have $250,000 in the bank today. That’s enough to buy a Ferrari.”
The smoker looked puzzled. “Do you smoke?” he asked his co-worker.
“So where is your Ferrari?”
[Photo cred: Axion23]
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Lol. Nice one J!
Love it! Happy New Year to you as well!
Does a Lexus count?
Happy New Year!
Sure, why not ;)
LOL. Insert foot in mouth!
Happy New Year!
Thanks for the funny, J. :-) Happy 2014 to you!
That’s hilarious. Happy new Year.
I guess I would show him my degree. Or point toward the hospital
At least you *know* where it all went!
Ha – great story! Without a complete plan, people tend to “save” on certain things, just to spend in other wasteful areas of their lives, with the same result. Spend money only on your priorities and save the rest! Have a complete plan.
Yup. Two sides of the equation – finding ways to cut expenses and/or get good deals for things, and then PUTTING THAT MONEY SOMEWHERE safe. It’s exactly why I’m a proponent of getting a tax refund at the end of the year even though it’s technically not smart giving a “free loan” to the gov’t. The truth of the matter though is that getting a chunk in your hand gives you a much better chance of stashing some away than taking out $50/mo or whatever and saving/investing it. Unless you’re conscientious enough to automate it and/or read awesome blogs like ours ;)
Good stuff. Happy New Year!
Haha, love it J. I’m going to have to remember that one! Thanks for sharing!
Hilarious. And really appropriate for the PF community.
Yup! And since there’s a sexy car involved (as well as smoking), it hopefully reaches those non-finance nerds out there too :)
Haha, that’s some good perspective!
To which you reply, I would never waste my hard saved money on such an expensive car. I could be a perfect driver and it can still get totaled. :)
That, or “I have $200k in my bank And a Ferrari! A sexy used one!”
That’s pretty funny :)
The article over at motley fool is great as well. At age 32 ever £1 I save today will be worth roughly £8 when I’m old and g grey and that’s after inflation! If that’s not motivation for young folk to get in the game early, even if it’s only for a small amount each time, I don’t know what is.
Cheers J for the link and happy new year!
Right? The trick is actually *DOING IT* though. And remembering so… might be best to just automate the xfer so you can’t forget/get tempted to stop!
Happy 2014! Haha funny story.
That’s great…so many are quick to judge others but are just as wasteful with their money.