Want to know the secret to doubling your money? Believe it or not, there’s a simple mathematical calculation that can help you figure this out. It’s called the Rule of 72. In this video, I’ll walk you through how to use this rule to estimate how long it will take for your investments to double.
🌟 Key Insights:
💡 What is the Rule of 72?
A straightforward formula to estimate the doubling time of your investments based on your average rate of return.
📈 Step-by-Step Guide:
1. Step One: Look at the average rate of return for your current investments over the last ten years. If you don’t have investments, use the S&P 500 average return of 10%.
2. Step Two: Take 72 and divide it by the average rate of return. For example, 72 divided by 10% equals 7.2. This means every 7.2 years, your money is expected to double.
3. Step Three: Apply this to your collection of investments. For example, if you have $100,000 invested, in 7.2 years, it could grow to $200,000 without any additional contributions.
💡 Discussion Points:
🤔 How to apply the Rule of 72 to your personal capital approach.
📊 The importance of consistent investing to accelerate your collection of investments development.
🧠 Understanding the power of compound finance charge and long-term investing.
🌟 Join me as we explore this powerful investing tip and how you can use it to grow your wealth.
📢 If you found this video helpful, share it with others, and don’t forget to subscribe for more investing tips and financial insights. Ready to learn more about smart investing strategies? Check out our next video for detailed advice and tips. See you there!
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*Disclaimer: Bob is not a investment advisor. Please contact a professional investment advisor prior to making any decisions. Some of the links and other products that appear on this video are from companies in which Bob Sharpe earns an affiliate commission or referral bonus. Bob Sharpe is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
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