Understanding compound interest is key to building wealth. Try the Rule of 72: divide your interest rate into 72 to find out how long it takes to double your money. Earning 5%? Your money doubles in about 14.4 years. At 7.2%, it's every 10 years, and at 10%, just 7.2 years! I've averaged 9.62% with my favorite financial tool, Indexed Universal Life, since 1980. With an initial investment of $125,000, watch your money grow: $250K, $500K, $1M, $2M, $4M, $8M. 🚀📈 Ready to unlock the power of compo
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The Rule of 72: What It Is and How to Use It in Investing
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"The Rule of 72 is a simplified formula that calculates how long it'll take for an investment to double in value, based on its rate of return." (Investopedia) 🤓 If you want a quick estimate to work out how long it'll take to double your investment based on interest returns, this calculation can be helpful - divide 72 by your projected annual rate of return. Note: this applies to anything that grows at a compounded rate. | Ladies Finance Club
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