Compounding your savings!

I know its been a while since I've posted on my blog...got no excuses...just been lazy and the weather here on the Olympic Peninsula has been beautiful. Except today the fog rolled in and hasn't rolled out yet, so here I am at the computer wondering what to write.

I've been mostly posting articles on ways to stay healthy and if you are going to stay healthy you will want to be wealthy at the same time. So lets talk about savings...something not enough of us do.

If you use the old rule of 72 you can determine how long an investment will take to double based on a fixed annual rate of return. Lets say you $10,000 in the bank at 6% interest. Divide 72 by the interest rate (6%). The result is the number of years it will take your investment to double. In this case, it will take 12 years. Your $10,000 will be worth $20,000 in 12 years and $40,000 in 24 years and $80,000 in 36 years.

That's working with a fixed amount however if your keep adding to the balance year after year you will end up with much more. So start now by paying yourself first and you will end up at retirement age being both healthy and wealthy.
Check out my previous post of seniors and strength training

yours in health....stretchguy

Tags: savings, savings and seniors, senior living