The Rule that will double your money
If your trying to figure out how to double your money then you need to learn about “The Rule of 72”.
The Rule of 72 is a common financial concept utilized every day in the financial. It should be used in personal finance as well but not everyone has been taught this rule. As a matter of fact if more people knew about The Rule of 72 they would be retiring financially set.
How can something so simple be so profound? Here is why:
The Rule of 72 states the interest rate you are getting on your investment divided into 72, will equal how many years will it take your money to double. If you have ever heard one of those overcomplicated guys on CSPAN or CNN Money mention a doubling period this is what they mean. For example $2000 dollars at 3% will be $4000 dollars after 24 years. The key is to start now. Most financial guys have a tendency to complicate the simple stuff because they want to sound smart.
So based on what you now know about The Rule of 72 it is safe to say that investing at 12% rather than 3% is a smarter financial decision. The real question here is:
Where do you go to get these 12% rates so I can invest smart and have my money grow faster?
The answer is: leave a comment or contact us and we will get back to you to show you how to do exactly that.
Have an Awesome weekend!!
See you next week!
TK
