The Rule of 72 is a rule of thumb that can help you quickly calculate how fast your nest egg will grow. Plug in any rate of return, and it will tell you how many years it will take your money to double in value.
It works like this:
Take 72 divided by the interest rate you will earn on your money.The answer equals the number of years it will take your funds to double in value.
Example: 72 / 4 = 18 years to double your money
Example: 72 / 10 = 7.2 years to double your money
