The High Cost of Smoking: Addiction vs. Tradeoff
We all know smoking causes cancer and heart disease. But what many don't know is this damaging habit actually harms nearly every organ in the body, causing disease and poor health throughout.
And that's not all; the consequences of smoking go beyond just the physical. This powerful addiction also affects quality of life, household finances and insurance rates, as evidenced by the following.
Bad Habit, Severe Consequences
Smoking has caused more than 12 million deaths since 1964. According to the Centers for Disease Control and Prevention (CDC) and the Surgeon General:
- Cigarette smoking causes about 440,000 early deaths each year and kills more than 1,200 people every day.
- Smoking is responsible for nearly 1 in 5
- Adult smokers shorten their lives by an average of 13 to 14 years.
- Half of lifetime smokers lose their lives as a result of smoking.
- Tobacco use causes more deaths each year than HIV, illegal drug and alcohol use, motor vehicle injuries, suicides and murders combined.
- Smoking costs our economy $157.7 billion each year in increased medical costs, lost productivity and federal and state taxes.
The list of diseases directly attributable to smoking seems to get longer by the day, now including maladies such as cancers of the cervix, pancreas, kidneys and stomach; aortic aneurysms, leukemia, cataracts, pneumonia and gum disease.
Undeniably, smoking takes an incredible toll on our bodies, lives and finances. From the time many smokers first light up as teenagers to their last failing breaths, this bad habit often becomes all-consuming—and the results can be devastating.
The Personal, Financial & Insurance Side
From a personal perspective, studies reveal that smokers:
1. Earn between 4 and 11 percent less than nonsmokers
2. Pay more for life, health and home insurance
3. Experience reduced lifetime retirement benefits
4. Lose money on the resale value of homes and cars
5. Spend more on dry cleaning and dental bills
Smoking also makes those who imbibe less appealing to employers, who normally don't want to foot the bill for the habit or its consequences, or see employees lose productivity on the job. Therefore, getting—and keeping—that perfect job often becomes difficult.
Kicking the Habit, Improving the Odds
So why kick the habit?
A pack-a-day smoker burns through an average of $30.24 per week, or nearly $1,600 per year in cigarettes, depending on where he or she lives. Placed elsewhere in the budget, that's enough to fund a nice annual family vacation, help pay off credit card debt or make a down payment on a new car.
For the 40-year-old smoker who stops smoking and places the savings in a 401(k) plan earning 9 percent interest per year, that money will balloon into $250,000 by age 70—making the golden years easier.
Life and health insurance premiums for those who quit drop dramatically, too—sometimes by as much as half. And kicking the habit immediately entitles the now nonsmoker to at least a 10 percent discount on homeowner's insurance. All combined, the insurance savings alone could add up substantially!
That's all to say nothing of appearances. No more "smoker's breath," yellow teeth or smoke-laden clothes. That means lower dry-cleaning and dental bills—and more pocket change.
But the best results, by far, are increased health, lowered risk of disease, and longer, more productive life. Those are tradeoffs no one can ignore.
To Smoke Or Not to Smoke?
Smoking is a powerful addiction that often carries grave consequences, including poor health, reduced quality of life, early death and soaring insurance rates.
Is it worth the tradeoff? We'd say no—but that's a question smokers must answer for themselves.