A Million Dollar Coffee

[jvn]

How much is your coffee habit costing?

My focus is on ways to retire &/or support a better retirement for myself and others. This article caught my attention about how coffee could affect your retirement. :)

http://moneycentral.msn.com/content/...lls/P60708.asp

The virtual breakroom here helps me cut down on the lattes. How about you?

[sudhani]

I prefer to have my coffee now, than think of a million bucks when i retire ... i am just 30!!!

[altyfc]

Since I don't drink coffee, does this mean I shall be able to retire at 40?

Aaron

[waanagaran]

I drink coffee twice a day (it's been a habit and almost like a ritual). It's the first thing I do every morning after I wake up. And again at around 10am (which is my self-imposed coffee break).

I'd rather have my coffee today than think of the million bucks I may have in the future (if I saved what I spend on coffee today). I'm not even sure if I'll live long enough to make a million.

[esiegel]

Note the bad news in there...
based on the assumptions the latte will cost $12...

therefore...a million dollar retirement fund MIGHT be enough to get you through the first year or two.

I logged onto my company's retirement fund site and punched some numbers into the retirement planning calculator...If I work until I'm 72 I should only be $700,000 short of my retirement goals.

So I'm working on some new skills for my second career...so far I know: "Fries with that?"

[jvn]

These replies are interesting. For those in the UK, India, and Philipines, I'm wondering if the coffee shops have the specialties that are expensive like here in the US. Buying a regular coffee probably averages $1.20 while the others are in the $4 range.

I don't believe it makes a difference if our habit is coffee or cake or dining out. The principle is that spending without saving is costing us a future. As Ed mentions, chasing the current rate of inflation makes it difficult to meet the goals. (... Fries with that ... " too true to be funny!)

My daily coffee ritual is still there too. I just limit the special coffees as a treat instead of a normal part of my routine.

[carju1]

These replies are interesting. For those in the UK, India, and Philipines, I'm wondering if the coffee shops have the specialties that are expensive like here in the US. Buying a regular coffee probably averages $1.20 while the others are in the $4 range.

Yep I saw a Starbucks had opened in Amsterdam the other day. The most amusing thing is that nearly every American I know who has been on assignment in mainland Europe and is then shipped back to the US begs other ex-pats to bring back proper coffe for them from Europe. I've tried a few of the weird starbuck type coffee's like eggnog or dble latte whipped and sahken with almonds. They are all very nice BUT the basic coffee they use is as weak as heck. The stuff I and most of our friends tend to drink is not exciting, fancy or frilly but a least you know youv'e hada cup of coffee at the end of it :)

Julian

[vfaulkner]

As I have told that 'I have too much blood in my caffeine system', I guess I will be panhandling it into my senior years...
If I follow family tradition/history(wrong word?), I will live until I'm 95 or more.
Currently my 401k and funds are doing well.

[matauri]

Looks like I will die a pawper !

I agree with you Julian....europe wins hands down in the coffee department for sure. Best coffee I ever had was in Rome, bellisimo (sp)! Unfortunately the $10AUD single scoop of icecream that went with it was a bit excessive! :-)

I do however have coffee sent over to here from Canada coz we have a pretty poor selection of coffee shops here, and ya got to take what ya can get. I shoulda have made more friends with people in europe ;-)



Cindy

[rocky1]

You might try fellow Web Pro Worlder John Hupp at http://www.dccoffeeproducts.com/ he has a pretty nice selection to offer and it's all mail order. Hottest seller being the 9009 Gourmet Medallion.

At least that way if you didn't retire, you'd be supporting a fellow WPW Member in his bid to retire!