Written by David Minkoff
Wednesday, 16 July 2014 00:00
Fay: Do you drink beer?
Fay: How many beers a day?
David: Usually about 3
Fay: How much do you pay per beer?
David: $5.00 which includes a tip
Fay: And how long have you been drinking?
David: About 20 years, I suppose
Fay: So a beer costs $5 and you have 3 beers a day which puts your spending each month at $450. In one year, it would be approximately $5400 …correct?
Fay: If in 1 year you spend $5400, not accounting for inflation, the past 20 years puts your spending at $108,000, correct?
Fay: Do you know that if you didn’t drink so much beer, that money could have been put in a step-up interest savings account and after accounting for compound interest for the past 20 years, you could have now bought a Ferrari?
David: Do you drink beer?
David: So, where’s your Ferrari?