There are two types of people in this world: Those who enjoy a cup of coffee while sitting in a cafe or while on the go and don’t mind paying for this daily convenience, and those who are convinced that this expenditure is keeping you from knowing true wealth.
The latter are the people who use on using “latte calculators” to add up the amount of Starbucks lattes you spend in a year and shoving it in your face. Try Googling, “I never buy coffee.”
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Financial guru Suze Orman has joined the anti-coffee club in a big way. She wouldn’t buy a cup of coffee anywhere, the multi-millionaire tells CNBC Make It. Moreover, she says, a daily coffee habit is the potential waste of a million dollars.
“You go in every single day and you spend a dollar to three dollars,” she chides. Well, more than that, in some cities!
Orman goes on to say that a daily coffee habit is approximately $100 a month, and $100 a month in a Roth IRA over 40 years is a million dollars. We’ll trust her math on that one.
And so, “You are peeing a million dollars down the drain after you are drinking that coffee.”
Yes, Suzie, we are. But boy, do we love our daily coffee ritual – the very best part of a morning routine. Because of course, you’re not always paying for the coffee. Sometimes you’re paying for the convenience, or for a place to sit on your way from here to there, or for a few moments alone in the middle of the city.
So what would you rather have at retirement: having enjoyed the many pleasure of a million coffees, or a million dollars? Some days, it’s a toss-up.
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