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Small Fortunes

Small Fortunes

Is your money going up in smoke? If a 35-year-old quits smoking, he can save up to Rs 12 lakh by the time he retires.

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If you smoke, here’s some eye-popping math for you. If a 35-year-old quits smoking, he can save up to Rs 12 lakh by the time he retires. Sounds unbelievable? Here's how:

A cigarette pack: Rs 40

Monthly cost: Rs 40 x 30 = Rs 1,200

Yearly cost: Rs 1,200 x 12 = 14,400

If that money was invested every month in a scheme that gave a 10% return annually, it would grow to Rs 12 lakh in 23 years.

And we have not even counted the savings in medical expenses after one quits smoking or factored in the imminent rise in cigarette prices over the years. Pity the Marlboro Man isn’t around to read this.