The Rule of 72 is a basic rule that each and every investor should know. The rule is commonly used to determine how many years will it take for your money to double. The equation is simply this, 72 divided the interest rate equals the number of years it takes for your money to double. For more information on this you can read my blog post entitled “An audio visual presentation of the Rule of 72” and “The Magic of the Rule of 72” For a more practical application of the Rule of 72, read the blog post entitled “Want to get wealthy ? Think like the bank” But the usage of the Rule of 72 is not only limited to investments. The Rule of 72 can also be used when it comes to managing debt wisely. The Rule of 72 could be written as follows: 72 / interest rate = number of years for your debt to double By using this equation, you can take any debt you have with your credit card company or your mortgage lenders and determine how many years will it take for your debt to double. As an … [Read more...]
Wisdom, Knowledge, Adventure, hacks for polymaths ... Life
Welcome polymaths !
Ever get the feeling that you seem to don't know what to do with your life because there are just so many things that you want to do ? I know, I've been there, so welcome to the club.
My name is Zigfred Diaz and I am a polymath. After more than 6 years of bloging about almost anything under the sun and having sort of a "blogging identity crisis." I've finally embraced who I am and decided to turn my main blog into some sort of guide for people with so much interest. Feel free to poke around.