How Many Years Will It Take To Double Your Money
The Power of 72 is great fun to share with the kids in your life - big and small ;)
Compounding and the impact it is having on your wealth journey isn’t always the easiest concept to explain (or understand).
The challenge is that compounding is an exponential thing.
For example - really understanding what a 15% rate of return looks like and what it actually means for you in metrics that matter can be confusing and confusion as a big enemy of action.
I for one don’t want long complicated equations to know whether I am on track or not or to have useful information like…
...how many years it will take, at a specific rate of return, to double your money!
Luckily we don’t have to study advanced mathematics to find this out – all you need to know is…
…The Power of 72.
The Power of 72 is a fun and cool way to find out how long it will take for you to double your money at different rates of return or interest rates.
Not only is it fun but it is also very useful for planning your freedom journey.
It is all about the power of two of the key wealth levers we have and the relationship between the two – time and rate of return which in other words is just how hard our money is working.
Watch the video to find out how it works….
How cool is that tool!
I always find it so empowering when I understand the levers or the factors I need to work with to make something work better for me.
Go play with this great Compounding Calculator to see the impact of compounding and the three levers of wealth on you achieving your wealth goals … Click Here to use our Compound Calculator
Thanks as always for reading, watching and sharing so generously and for choosing to master this key ingredient of money and to live your juicy life each day.
Big love
Ann
P.S ** You can also use The Power of 72 to calculate how long it will take a debt to double at a specific interest rate!
Remember …
“Compounding has no value judgment!
It will work for or against you depending on how you apply it.”
