• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Water Street Financial

Financial Advisors in Winchester, VA

  • Home
  • How We Help
    • Our Goals Driven Process
  • Who We Help
  • Team
  • Blog
  • Open Account
  • Client Center

March 1, 2019 By ryanoates

A cup of coffee costs WHAT????!?!?!?!

First, let me say, I drink A LOT of coffee! I’m not casting stones or in any way advocating you not to have your morning Cup of Joe, that would be insane! savings, 401k, retirement plan, coffee

I do think its interesting though to consider what that daily cup of coffee costs us throughout our life. What really makes me think about this is when we go to help retirement plan participants and they say (everyone says this, you aren’t alone!) “I can’t afford to increase my 401k contribution”.

HOW MUCH ARE YOU SPENDING ON COFFEE???

Let’s just assume that you are buying the local convenience store coffee and not the Triple Mocha Grande Latte Frappa-whatever….. and you are paying $2 a day. Again, probably low on average, but just for the purpose of this exercise. Let’s also assume you don’t parlay that delicious morning necessity with a donut/bagel/gluten free protein bar at another $2-$4. So I’m giving you a lot of credit for will power here!

$2 a day for 25 days a month for 12 months would equal $50/month or $600/year. Again, probably a conservative number, but somewhere to start….

If you are 25 and do this until you are 65 and could potentially be missing out on an average return of 6.5% (S&P 500 has averaged 7% annually since 1950)…. it would equal………..

$108,495.29

Ok, I know what you are thinking… No Way That Can Be Right!….

This is just a simple exercise to get us to think about the money we spend every day and simple steps we can all take towards a brighter future!

Enjoy that cup of coffee, I know I will, but also think about a few bucks here and there that you could put away in your retirement plan….. it could make a HUGE difference and improve your Retirement Readiness!

As always, enjoy life today, but plan for tomorrow!

Ryan Oates

About our firm

Follow me on Linkedin

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

Filed Under: Uncategorized

Previous Post: « What have the last few months taught us regarding our goals?
Next Post: Key terms to know about your retirement plan… »
Read More About Us On BrokerCheck
Check the background of investment professionals associated with this site on FINRA’s BrokerCheck.

Footer

Disclaimer

Securities offered through LPL Financial. Member FINRA/SIPC. Investment advice offered through Wealthcare Advisory Partners, a registered investment advisor. Wealthcare Advisory Partners and Water Street Financial are separate entities from LPL Financial.

The LPL Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: VA, MD, WV, SC, PA, NC.

Tommy Stine and Garrett Rohrbaugh are solely investment advisor representatives of Wealthcare Advisory Partners, and not affiliated with LPL Financial. Any opinions or views expressed by Wealthcare Advisory Partners are his/her own and are not those of LPL Financial.

Contact Info

Water Street Financial
40 West Piccadilly Street
Winchester, VA 22601

540-450-8351
info@waterstreetfinancial.com

Copyright © 2021 · Water Street Financial