Double Or Nothing.

The way to know your wealth is growing is to see how long it takes you to double it. A shortcut to easily calculate this on any investment is by using 'The Rule of 72'. Let me explain.

Let's assume you are planning to put an amount of 10 lacs in an investment product giving 6% per year. How long will it take for this investment to double your money, that is to make your 10 lacs to 20 lacs?

You take the annual rate of return, here it is 6%, and divide 72 by it. That would mean 72/6 which will be 12. So it will take you 12 years to double your investment at 6% rate of return yearly.

I am sharing a small table to show you the difference, the rate of return brings to your wealth creation. So choose your investments carefully.

Note: Divide 72 by the rate of return. Do not include the % sign. Not this 72/6% but this 72/6.