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I Wonder What is the Rule of 72 and the Rate of Return?
- 1. The rule of 72 lets you calculate the effect of compound interest with a formula.
- 2. Take 72 and divide it with the rate of return, i.e., 4 percent. Result is the number of years to double your money, i.e., 18 years.
- 3. The difference between $10,000 at 4% versus 12% is $600,000. $600,000 is equal to 20 years’ salary of someone who earns $30,000 annually.
Wealthy peop tend to spend time learning and understanding how money works.They ask questions, seek advice, and solutions to get better returns for their money.
Money Habits build Your Future. Money Habits create choice. You can do it. Ask me how. Questions and comments are always welcome.1-415-793-7979 or email me at ma*********@gm***.com . @marywongins #marywongins #wealth #lifeinsurance #annuity #budget #baby #education #retirement #vacation #travel #realestate #homeownership
I Wonder What is the Rule of 72 and the Rate of Return?
- 1. The rule of 72 lets you calculate the effect of compound interest with a formula.
- 2. Take 72 and divide it with the rate of return, i.e., 4 percent. Result is the number of years to double your money, i.e., 18 years.
- 3. The difference between $10,000 at 4% versus 12% is $600,000. $600,000 is equal to 20 years’ salary of someone who earns $30,000 annually.
Wealthy people tend to spend time learning and understanding how money works. They ask questions, seek advice, and solutions to get better returns for their money.
Money Habits build Your Future. Money Habits create choice. You can do it. Ask me how. Questions and comments are always welcome.1-415-793-7979 or email me at ma*********@gm***.com . @marywongins #marywongins #wealth #lifeinsurance #annuity #budget #baby #education #retirement #vacation #travel #realestate #homeownership
