Finance Self Improvement

Quit Smoking, Invest, Profit: See How Much You’d Have by Retirement

Joel Lee 14-09-2016

If you’re a smoker, you know already how expensive it can be and you don’t need me to tell you. I’m not here to lecture you on or convince you of any lifestyle habits or changes — I just want to highlight a nifty tool that shows you how much better your retirement could be if you decided to quit smoking.


Just hop over to the Quit Smoking Calculator by Omni Calculator and input a few numbers accordingly — how many cigarettes you smoke per day, the average cost of a pack of cigarettes in your area, how many years until you retire, and what kind of return you expect based on your investments.


Here are the numbers that I crunched:

  • 1 pack of cigarettes per day, average for a smoker.
  • $5.85 per pack of cigarettes, average for my state.
  • 30 years until retirement.
  • 7% return on investment, average for a mutual fund.

The results based on those numbers: I would save $2,137 every year if I never purchased another pack of cigarettes. If I took that money every year and invested it into a mutual fund, I would have an additional $217,227 by the time I retired. What would you do with that kind of money?

Not only that, but I’d have an additional six years of life expectancy and my body would be much healthier, both of which would go a long way towards enjoying that retirement money properly.


But you don’t have to invest it if you don’t want to. You could instead put it towards digging your way out of debt The 6 Things You Need to Get Out of Debt Quickly Getting out of debt takes a lot of work, but if you know the right tools and strategies, you can get a big head start on becoming debt-free. Read More , saving for a rainy day 5 Tech Tips to Boost Your Savings Fast Building up your savings can take a long time, but using the right tech tools can help you boost your savings quickly. Read More , spending it on other more fruitful hobbies 5 Creative Hobbies for Adults That'll Make You a Happier Person Proper creative outlets can improve your mental health and happiness. Here are some creative hobbies that are proven to help. Read More , or even aiming for financial independence and early retirement Can You Retire Early? These Calculators Will Tell You Financial independence and retiring early (FIRE) are great goals, but how can you figure out if they're possible? These calculators will help. Read More . It’s up to you!

How much money could you save by quitting smoking? Try out the calculator and, if you feel comfortable, share with us down below! We’d love to hear your thoughts.

Image Credit: jumpe via Shutterstock

Related topics: Calculator, Health, Personal Finance, Save Money.

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