Wouldn't it be great knowing that your money is making your more money even when you're asleep? I have two words for you...Compound Interest! 
The Rule of 72 says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.
Here's a simple example of how your money will grow with compound interest and a minimal investment:
Initial Principal (your intitial deposit) : $1000.00
Yearly Input : $4000.00 (that's roughly $77 a week)
Years To Grow: 10 years
Interest Rate: 20%
Compounds Once Annually and after 10 years you will have $130,793.41
Not too shabby! It doesn't take a lot of money to invest and make your money work for you. It is a misconception that you need a lot of money in order to make money on investments. So start saving up for your nest egg now.
The Rule of 72 says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.
Here's a simple example of how your money will grow with compound interest and a minimal investment:
Initial Principal (your intitial deposit) : $1000.00
Yearly Input : $4000.00 (that's roughly $77 a week)
Years To Grow: 10 years
Interest Rate: 20%
Compounds Once Annually and after 10 years you will have $130,793.41
Not too shabby! It doesn't take a lot of money to invest and make your money work for you. It is a misconception that you need a lot of money in order to make money on investments. So start saving up for your nest egg now.
Comment