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Radical Personal Finance

452-The Rule of 72

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.41.9K Ratings

🗓️ 13 April 2017

⏱️ 16 minutes

🧾️ Download transcript

Summary

Today we tackle the Rule of 72 with a quick explanation of what it is and why it's useful to you.

Transcript

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0:00.0

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0:11.0

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0:25.0

This is a high-risk investment and you should not expect to be protected if something goes wrong.

0:30.0

Today in Medical Personal Finance, we talk about the rule of 72, one of those very useful

0:37.6

little mental math shortcuts that you can use to estimate the effect of various growth rates and calculate how long it takes you

0:47.8

to double your money. Oh, Welcome to Radical Personal Finance, the show dedicated to providing you with the knowledge,

1:08.3

skills, insight and encouragement you need to live a rich and meaningful life now while building a plan

1:14.0

for financial freedom in 10 years or less. Hey guess what if you're going to do 10 years

1:18.4

or less do you know how much money you need at the end of 10 years and do you know

1:22.1

how long it'll take your money to double in 10 years?

1:26.0

What interest rate you need to double your money in 10 years?

1:28.6

That's why the rule of 72 is useful.

1:40.0

Jumping back into the financial planning shows here today,

1:43.2

they've been on hiatus for quite a while here on radical Personal Finance. Traditionally I like to do Wednesdays as a Financial Planning Show and the reason for

1:49.1

that I know for some of you Financial Planning Shows have been your favorite

1:52.4

that was what brought you here to Radical Personal Finance you said Some of you, financial planning shows have been your favorite.

1:52.5

That was what brought you here to Radical Personal Finance.

1:54.5

You said, hey, Joshua says he's teaching his way through the CFP curriculum,

...

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