Mortgage protection insurance, cheap term insurance, insurance sales leads and training are just some of the benefits to visiting our web site. We are a one-stop website for all your insurance needs.
Rule of 72
Single Deposit
Divide 72 by the interest rate and the answer will tell you the number of years it will take for your
single deposit to double.
72 divided by 6(6%)=12
$1,000 will grow into $2,000 at a 6% annual interest rate in 12 years.
Divide 72 by the number of years you want your money to double and this will tell you the interest rate you must earn.
72 divided by 6(6 years)=12
$1,000 will grow to $2,000 at 12% annual interest rate in 6 years.
The 1% difference
$10,000 invested at 4% over 15 years = $18,009 future value
$10,000 invested at 5% over 15 years = $20,789 gain of $2,780 (15.4%) over 4%
$10,000 invested at 6% over 15 years = $23,965 gain of $3,176 (17.6%) over 5%, gain of $5,956 (33%) over 4%
Starting Early
Age
Monthly Amount
Total Contribution
Value at age 65
20*
$50
$12,000
$190,450
40**
$315
$94,500
$190,450
*50 invested monthly for 20 years at 5% interest until age 40. No contributions are made for the next 25 years.
**Savings plan starts at age 40. $315 invested monthly for 25 years at 5% interest.
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