The Rule of 72
7 April 2005Today’s real-life email from Dad:
Hello, Little Girl …..
I’m happy to report that with your Vanguard Easter present now invested, you have broken the magic 6K barrier in your Roth IRA. Why don’t you report back telling me about how much that will be worth to you in, say, 40 years, and tell me how you calculated it? We’ll see if you’ve been paying attention.
LYF
Math homework from my dad. I’ve said it once before, but it bears repeating: if I could do math, I would find work in a higher paying industry, then use all of those math skills to count my money.
I also believe that knowing where to find the answer is just as good as being able to come up with it yourself, and after some brief google searching, this is now my favorite financial website, if you are so inclined to do some of your own math.
*UPDATE* The response from dad to my answer:
Very good! Close enough! I sent the same email to your little brother who replied that he tried to Google it, found it tough sledding, and gave up. So his answer was something like “a lot.”
BTW, what’s going with those Mets? When are they going to win a game?
Sigh. Mets.
One Response to “The Rule of 72”
April 7th, 2005 at 12:29 pm
***thwack!****
Blogstalk tag!
Good website recommendation, by the way.