💰 “There’s an old economic rule known as the Rule of 72 that tells us how many years it would take for something to double in value.” 72 / by growth rate. Simply divide the growth rate or interest rate into 72 and the answer will tell you how many years it would take for your investment to double in value.
Let’s say that you have $100,000 in an investment growing at 8%. What you do is divide 8% into 72 and this will give you 9 years. So, in 9 years ignoring fees and the effect of taxation, your investment will double in value to $200,000. “
💡 If you need more information or help to implement this strategy for investing and building your wealth contact us today.
Call us on 08 7111 0022 or book a chat to see how we can help you here
Arthur Panagis
Author, Founder, Wealth Coach and Financial Strategist
B.Bus (Accountant)
Grad Dip (Financial Planning)
Professional Certificate in Self Managed Super Funds
ASX Listed Equities Accreditation
Tax (financial) Advisor
REMEMBER, action is power!
We want to make the rest of your life the best of your life.
– Head Office –
Suite 2, Level 1, 148 Greehill Rd,
PARKSIDE SA 5063
Ph – 08 7111 0022
Email – info@fmgws.com.au
<= SHARE THIS STORY
Disclaimer: This article is factual information only. It is not intended to imply any recommendation about any financial product(s) or to constitute tax advice. The information in the article is reliable at the time of distribution, but may not be complete or accurate in the future.
