The Rule Of 72: Double Your Money
WHAT IS THE RULE OF 72?
The Rule of 72 is an easy way for you to calculate how long it is going to take to double your money. Take the number 72 and divide it by the interest rate you hope to earn. This will give you the approximate number of years it will take for your investment to double.
WHY YOU WANT TO LEARN THE RULE OF 72 FORMULA:
Learn How You Can Double Your Money
Rule of 72 is a great tool for you to use to help understand how much compound interest can help accelerate your savings and double your money. It also helps to show the importance of starting to save for retirement as early as you can. If you can double your money every 10 years, the sooner you start the better. Even if you can put more away as you mature. The earlier the better! The power of time and Compound Interest.
Your Experior Expert will help you to know how much you need to put away every month to retire the way you want! They use our proprietary software, and it takes into account this rule and so much more to come up with a plan for you financial life.
THE RULE OF 72 FORMULA EXAMPLES:
The Rule of 72 can be applied to investments, inflation, or anything that grows.
The formula is simple: 72 / interest rate = years to double your money
If you invested $5,000 at:
4%, it will take 18 years for your money to double (72 / 4 = 18)
6%, it will take 12 years for your money to double (72 / 6 = 12)
8%, it will take 9 years for your money to double (72 / 8 = 9)
10%, it will take 7.2 years for your money to double (72/ 10 = 7.2)
INVEST TODAY FOR A BETTER TOMORROW
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Investing now will help you build significant wealth over time. The younger you start investing your money the better. Even if it is only a small amount you can contribute.
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