How much money would you save if you quit smoking.

Earn $1 Million If You Quit Smoking

In the type of practice that I have most patients are very health conscious and take care of their body. However, on occasion I do have a patient that smokes. I, like every other physician they have seen, explain the medical ramifications of smoking. Sometimes it is enough to convince them to stop smoking.

While reading a medical journal today I came across an article titled “Earn $1 Million If You Quit Smoking”. The article explained that if a person smokes 2 packs a day the cost per month is around $213. If a 25-year-old quit smoking and began investing this money in, say, the Vanguard Total Market Index Fund and kept the program going to age 65, they could be a millionaire. This was using a conservative 9% return. The article also pointed out additional saving with life insurance. A $1 million 30 year level term policy for a 30-year-old smoke costs about $3000/year while a nonsmoker would pay only about $900 per year. A savings of $480,00 by age 65.

Maybe for some smokers who are not motivated for health reason this financial information might be enough incentive to get them to commit to stop smoking.

Terry Pfau DO, HMD

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