Day 6 of 40 Days to Make Your Money Count

Money is like manure; it's not worth a thing unless it's spread around encouraging young things to grow. ...from "The Matchmaker" - Thornton Wilder You can calculate the number of years it will take to double your money by using "The Rule of 72." Simply divide the interest rate into 72, and the answer is the number of years for your investment to double. This works, of course, no matter how much money is invested, but it doesn't take taxes into consideration. For example, if you have an account that is earning 8%, you divide 8 into 72, and you find that it will take 9 years for your money to double.

You can listen to Day 6 of 40 Days to Make Your Money Count online on Radio and Podcast. Open the player on this page to stream the available audio.

Day 6 of 40 Days to Make Your Money Count is an episode from Made in Texas by Jim Munchbach, Certified Financial Planner™.

This episode is 11:55 long.

This episode was published on Dec 12, 2018.

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