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How can I double my money in 1 hour?
Essentially, divide 72 by your expected rate of return to estimate the time it takes to double your money. At 10\% return on investment, it would take 7.2 years or 72 / 10. However, what if you found an investment return of 20\%? Using the rule of 72, It would take you 3.6 years to double your money.
How do I consistently double my money?
You can double your money in 2021 by increasing the amount of money you invest, planning a long-term investment strategy, or seeking out investments that generate higher returns (retirement plans, stock options, and oversold stocks).
How can I double my money quickly and easily?
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How long will it take to Double Your Money?
If your money is in a savings account earning three percent a year, it will take 24 years to double your money (72 / 3 = 24).
What is the best way to Double Your Money?
Equity index funds, bonds, and taking advantage of retirement accounts are three great ways to double your money. Just remember that all three of these tactics hinge upon creating and maintaining a strong budget. Create a budget that guides where your dollars will go every month.
How long will it take for you money to double?
This is the number of years it will take for your money to double. For example, if your money is earning an 8 percent interest rate, you’ll double your money in 9 years (72 divided by 8 equals 9). Or, if your money is earning a 5 percent interest rate, you’ll double it in 14.4 years (72 divided by 5 equals 14.4).