EPISODE SUMMARY“My wealth has come from a combination of living in America, some lucky genes, and compound interest.”-Warren Buffet

In this episode of Financial Jargon, Ryan and David discuss the Power of Compound Interest.

EPISODE NOTESThe Rule of 72 is a great way to estimate how your investment will grow over time. If you know the interest rate, the Rule of 72 can tell you approximately how long it will take for your investment to double in value. Simply divide the number 72 by your investment’s expected rate of return (interest rate). Assuming an expected rate of return of 9%, your investment will double in value about every 8 years (72 divided by 9equals 8). - SEC website

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