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Facts:
– Those smoking 1-2 packs a day since 1975 in New York will have spent $83,000 by 2015. If they are alive in 2060 and cigarette prices continue to grow at current rates, this number would skyrocket to $2,000,000. If this money was invested instead of spent, in 2015 it would be worth $220,000. In 2060, this would be worth $5.97 million, assuming the S&P 500 averaged 5% growth annually.
– New York is currently the most expensive place to buy cigarettes, at 10$ per pack. That is a 3800% increase over 1960 prices, when a pack cost just $0.26.
