> “Let’s say you spend around $100 on coffee each month. If you were to put that $100 into a Roth IRA instead, after 40 years the money would have grown to around $1 million with a 12 percent rate of return.”

...why not both? :-)

But seriously, coffee is a drop in the bucket. Most of us spend 30% of our income on housing alone. And you have to eat. And coffee makes us happy and productive. The cost of not having that coffee - being unproductive and unhappy - is much greater.

And of course, what's the end goal? Have the most money at the end of your life? What do you win for that? Nothing. Your goal should be to spend all of your money living the best life you can, with enough money to retire on and enjoy the lifestyle you want (with a rainy day fund, of course). Teach your children what they need to know to succeed, so none will need to depend on any inheritance, and leave them whatever property or money is leftover.