Given good investments, how long should it take to double my savings?
chevyracr asked:
It has been a long time since accounting 101 but I remember something like 4 or 7 years.
It has been a long time since accounting 101 but I remember something like 4 or 7 years.
theriddle:
Don’t count your eggs before they hatch.
November 20, 2008, 8:49 pmpyromagic1:
If your portfolio grows an amazing 10% per year, you will need only 7 years to double your money. Conversly, if it grows at 7%, you will need 10 years to double, 20 to quadruple, etc…
November 21, 2008, 11:39 pmtxhypnotist:
Savings accounts will not double in your life time at 4% int. You need to invest in the stock markets/Options trading of Hedge funds if you want a real double or tripple return on your money.
November 24, 2008, 6:22 amtake 10k and trade options, and make 400% return in one year, then you will understand what I am talking about.
franklinfzappa:
With an interest rate of 7% it’s 10 years….the formula is called the 72 law…and it says divide the interest rate into 72 to find how many years it will take to double your money. So if your interest rate was 5%…it would take 14 years.
November 24, 2008, 9:17 pmoil field trash:
Based on historical average rates of return maybe 8 to 10 years; however, with the current stock market the rate of return has been more like 12 to fifteen years.
November 27, 2008, 10:37 amdpacman:
It really depends on your rate of return. Here is a link to an investment calculator:
November 30, 2008, 2:21 amjodraven03:
It can’t be an abstract number like 4 or 7.
It depends on the return and the size of the investment.
The return is generally stated in terms of a percent and the investment is a dollar amount.
A $100 investment with a 10% return will deliver in 10 years (10% of $100 is $10. $100 divided by $10 will give you 10 years).
See how easy it is?
November 30, 2008, 7:25 amcashmoneycuban:
it depends if your investments are only like at banking institutions or of you are investing in something else…you can buy a container full of…..say gas powered generators and double your money in as long as it takes you to sell them off
December 1, 2008, 6:04 pmscrewsaban519:
You should spend your life savings on lottery tickets, and you can multiply your savings X 10000!
December 5, 2008, 3:33 pmayobayodeoyebade:
within a month of working with the money, the money should have be doubled by me
December 9, 2008, 2:00 amFrank Castle:
3 Years or less.
December 12, 2008, 4:41 amGoddessofCoughSyrup:
7 years at 10%
December 15, 2008, 11:23 amPolitical Guy:
The general rule of thumb is the rule of 72. Take 72 and devide by the interest rate. So if the interest rate is 8% its 72/8 (note it’s “8″ not .08 for 8%). so 72/8=9 so about 9 years to double your money.
And if you made 4% it would double in your life time 72/4=18 so about 18 years.
NOTE: This is not an exact measure just an approximate measure. And the amount of the investment has no effect on the time to double.
December 18, 2008, 10:07 am