The rule of 72 is an awesome little formula and a constant reminder that my actions today will have a tremendous impact on the future version of me when it comes to investing and saving.
While I can’t (necessarily) control the rate of return on my investments, I can control how much I invest each month. The earlier you can invest in life, the better chance you have at growing a large amount of money for retirement.
If you have debt (mortgage not included) work to pay that off first. The rule of 72 works for debt as well but in the opposite direction. You’re actually investing in your future when you pay off debt.
Share your strategies for saving below and forward this to a friend who should know about the rule of 72.
If you like what you read here, sign up below for my weekly newsletter. It’s completely free, easy to digest and filled with tips just like the Rule Of 72.