I’ll assume you are in your early twenties. If you save and invest $50 a month, at your retirement you will have between $36-157k, depending on interest rates (5-8%, plus or minus 2% ). Save $100 a month and you’ll have $73-313k. My mutual funds have averaged close to 9%. A managed account, or a more diversified portfolio could go much higher.
I’m retiring in four years, and I wish that I had acted on this advice when I was your age. If it wasn’t for us buckling down in our late 30’s, we’d be in trouble. As it is, we own our house, are debt-free and we’ll be financially comfortable, all on a modest income. Had we started saving at your age, we’d be in considerably better shape. It seems inconceivable at your age, but trust me, people like you have amassed millions by being frugal, disciplined and somewhat attuned to the investment world.
If you feel like you must smoke, there are cheap RYO blends that are perfectly good. Spice them up with some whole leaf Latakia, Perique or Dark Fired. Five pounds of Buoy Gold can last you a long time. Better yet, quit smoking now and put that money to work for you, instead of burning it.
Don’t let peer pressure force you into believing that you need 20 tins each of six dozen different blends and 75 pipes. Or a new game console. Or a new car. You need a roof over your head and a comfortable retirement. Everything else is superfluous.