Albert Einstein was a very smart man. One of the things that he left us with was a banking rule called, “The Rule of 72″. Ever heard of it? It’s a simple rule where you take the interest rate that the bank is offering you, divide it into the number 72 and the number that you get represents how long it will take your money to double. So one would look at their lives and determine, ‘How many doubling periods might I have in my life’? The numbers begin to shrink the older you get.
Here’s how it works:
Someone gave you $10,000. Woohoo! You’d be pretty happy right?
You deposit that $10,000 into Wells Fargo, Chase, TD Bank, etc.
You would divide the interest rate into the number 72 and it’s going to give you a number. In this case the number is 7200.
With a 0.01% interest rate that many banks are offering, it will take your $10,000 investment 7200 years to double. Will you be here?
Make that calculation valuation for any interest rate and determine who’s getting the better share. You or them?!
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Here’s the raw and unadulterated truth. The global economy, places that we shop (Target, Walmart, Costco, Starbucks, etc), has been averaging 10-12% since 1924 in any 4-5 year period of history. So…all of the high rates go back to the banks and then the banks, credit unions and insurance companies, give you and I a portion of that…usually about 0-3%.
There is no way on this side of heaven that we…us…our families can EVER become financially independent with that little investment return. We cannot! And that is why many people are retiring BROKE. I always say, broke can be fixed, but you have to be properly educated about the “rules” and how they apply to you and your family.
1. Me & the homie @jaleelwhite #RujohnFoundation Happy to be in Jamaica! Good times
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5. Good Morning. Early day in Detroit! Making press rounds for @thebossnetwork's Ladies That Lead Tour. Thank you @traycemadre and @colourbynumbr for my glam.
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6. POWER the best show on TV @djenvy, Queens we so big out here. #EFFENVODKA #FRIGO
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7. They said u lost a step, wasn't explosive as once was, the best days was in the real view, questioned your drive, your leadership, your commitment, you don't have killer instinct, going back home is the worst mistake in your career, he got the coach fired, players traded, won't work between him and Kyrie, Him and Kev won't work, love your teammates to much, there's no way he can deliver a championship in his hometown, etc etc etc.... But guess what THATS NONE OF MY BUSINESS #StriveForGreatness #ThisOneIsForTheLand #PutSomeRespeckOnMyName Hahahaha!!! Yes sir
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8. Oooooh weeee this man right here is responsible for at least three of our four babies!! #JOE ❤❤❤🎤 #rnb #king #voicelikebutter #ForPeetesSake
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9. Hanging with my @abcnetwork family! @abcunclebuck tonite y'all check us out ! @anthonyanderson @traceeellisross
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10. My broski ( @sayeedshahidi ) and I are on Top 5 Live on @go90 at 5 (which is super duper close)! Make sure to tune in :) #UncleBuck #Blackish
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11. Lights out💤 #GoodNight
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12. Late nights mornings
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13. Ran into the lovely talented @siedahgarrett on this brutiful favvuz deh!
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14. #halal #love #thedargans #kattwilliamsSHOW #mashallah when that Jennah piece HIT!! @sweetjennahcollection glasses by @baddieglamaccessories LIZ 😍 @dynamiteko top @dazzledmv and jeans @thevision414 and shoes: @louboutinworld
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15. Big Hair and Optical Illusions #OceanDrive #MiamiLiving #coverparty
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16. MAMA and THE SAVAGES ... ⚓️ #supportyourlocalgirlgang
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17. From the bottom of my ❤️, thank you new followers & old! & hello fellow night owls! #grateful #racheltrue #naturalhair #curlyhair #curlygirl #healthyhair
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18. I feel so grateful because I met these amazing young minds, visiting from Houston TX, during their college tour stop today at #usc.These students are ALL extraordinary and embody academic excellence so I'm humbled to have shared a few moments with them to applaud and celebrate their bright futures ahead! Thank you @EmergeFellows for inviting me to speak and blessing me with your love and attention this afternoon!
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19. Happy Fathers Day Pops. U taught me how to be a man. Lessons of love, hard work & gratefulness. Sorry the fishing didn't stick. LOL. I Love U!
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20. Sky Zone and Ice Cream! Best Fathers Day Ever!! Photo credit @mariahcarey
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21. Look what finally came in the mail 😎 #mtvmovieawards2016 💥+🌽! #straightouttacompton
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22. Claudia Jordan: ....
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23. 'Member that time I almost knocked a bajillion dollar camera off the car? Really? Yeah, me neither! #Greenleaf Episode 2 comin atcha!
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24. Full of love. #birthday #Cabo
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25. Oh hey! Look who just joined Snapchat
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