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The “Rule of 72” and How it Works
The “Rule of 72” is actually a formula which can let you know either how long in years an investment will take to double at a specific rate or what rate of return you need for an investment to double over a specific timeframe. Essentially, if you know either an expected rate of return or a timeframe you hope your investment to double in, you can solve for the other value.
Teach Kids Money! 3 Tips to use an Allowance to Teach Personal Finance | Financial Fatherhood
“One of those tough parenting challenges is trying to get your children to understand the value of a dollar. You want them to be provided for but don’t want them to feel entitled or think their toys or video games just appear out of thin air. Most importantly, you want them to be prepared for the future.”
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