WEBVTT NOTE This file was exported by MacCaption version 8.1.01 to comply with the WebVTT specification dated March 27, 2017. 00:00:01.101 --> 00:00:02.803 line:80% Do you know the rule of 72? 00:00:03.403 --> 00:00:05.038 line:80% It's an easy way to calculate 00:00:05.105 --> 00:00:07.908 line:80% just how long it's going to take your money to double. 00:00:08.041 --> 00:00:09.643 line:80% Just take the number 72 00:00:09.710 --> 00:00:12.512 line:80% and divide it by the interest rate you hope to earn. 00:00:12.579 --> 00:00:15.449 line:80% That number gives you the approximate number of years it will take 00:00:15.515 --> 00:00:17.117 line:80% for your investment to double. 00:00:17.184 --> 00:00:20.554 line:80% As you can see, a one time contribution of $10,000 00:00:20.787 --> 00:00:23.390 line:80% doubles 6 more times at a 12% return 00:00:23.724 --> 00:00:24.958 line:80% than at 3%. 00:00:25.292 --> 00:00:28.061 line:80% How many doubling periods do you have in your life?