What is that cup of coffee really costing you?
Today’s 2 Minute Financial Focus is to ask the question, “What is that cup of coffee really costing you?”
Everybody loves a good cup of Starbucks coffee. I can smell it now, a venti skinny vanilla latte. Umm.
But what do you think that vanilla latte is really costing you? $4.65?
Let’s say you got one every day. And maybe you splurged a couple times a week and you got two in a day. That means you were having 9 vanilla lattes a week. At $4.65 apiece. That’s $41.85 a week. Not too bad, right!
But what if you did that for a whole year. That would be $41.85 a week for 52 weeks. That’s $2,176.20 a year.
What if instead you were to save that amount of money in your retirement account or investment account?
If you put an additional $2,176 into your 401k every year, and let’s say you got just a modest 8% rate of return, what would that look like?
This might shock you!
Over a 10 year period that would be an additional $34,044.
Over a 15 year period it would be an additional $63,809.
And over a 20 year period, it would be a whopping $107,544.
Now what do you think that cup of coffee is costing you?
Here’s to drinking the free office coffee! Bottoms up!
I hope you’ve enjoyed this 2 Minute Financial Focus. To learn more and get your free copy of FOCUSED, The Financial Freedom Formula, go to TheFocusedBook.com.