its not just coffee... its anything discretionary that you spend you money on regularly.
Point. If you show me a lifetime smoker (you know, like the pack a day sort of person... and I will show you a person who “could” of been a millionaire, if they had saved and invested the same amount of money over a lifetime.
here’s how it works
$5 a day x 365 days a year = $1,825 per year on coffee.
if you saved that instead conservatively and got a consistent 8% return (about the average return on the S&P historically). And you started doing this at 20.. and did it until retirement age at 65. That’s 45 years of compounding savings. If you factor in a historical 3% inflation rate. You end up with a savings of $1,027,068 for retirement. It’s THAT easy to become a millionaire!