Wondering why that lifelong goal of becoming a millionaire feels so unattainable?
If you are a smoker then you may want to take a step back and examine your cigarette expenditure. Because it just so happens that you may have already reached your goal of attaining millionaire baller, Mayweather status. Cha-ching!
The average price for a pack of cigarettes in the United States is about $5.50. A pack of cigarettes in Virginia runs about $5.25 a pack. In Michigan, you can expect to pay around $8 a pack and close to $13 a pack in New York. While the cost per pack of cigarette varies greatly by state, one thing is for certain, a lifelong habit of smoking can burn a nasty hole in your wallet.
According to The American Lung Association, tobacco kills nearly half a million Americans annually and costs the nation roughly $333 billion per year in health-care expenses and loss of productivity. Do you have any idea what $333 billion can get you? About 33 gorgeous penthouses at New York’s Bloomberg Tower, that’s what! And get this, after you purchased these luxuries residences, you’d still have plenty cash left over to make it rain, baby!
WalletHub, a personal finance website, recently ran a state-by-state analysis detailing the lifelong financial cost of smoking for an individual smoker and revealed some startling information. Calculated in were the annual per day cost of a pack of cigarettes, health care costs, income losses brought on by sickness and other costs brought on by smoking and the exposure to secondhand smoke. These results were achieved by multiplying the average price per pack of cigarettes in each state by the number of days in 51 years.
Out of the fifty states measured for lifetime cigarette expenditure per individual, Kentucky ranked the highest at $1,136,524. North Carolina came in second at $1,151,396 and Georgia came in third with a total cost per smoker reaching $1,155,351. The remaining states rounding out the top ten were: Mississippi, Tennessee, Alabama, North Dakota, South Carolina, Missouri and finally, Idaho – all of which still saw a smoker spending of over one million dollars in cigarette expenses in their lifetime.
We know one thing, numbers don’t lie!
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