The Rule of 72 - What's in your wallet?

Have you ever heard of the "Rule of 72"? I had, but it was a very long time ago. Probably back in my college days. I probably wasn't paying close attention that day. When you are thinking about how much money you need to save in order to retire, it is helpful to know how fast your money can grow. The "Rule of 72" will let you quickly calculate an estimate of how long it would take any amount of money to double in value. All you need to do is take the number 72 and divide it by the interest rate you expect to get for your money. The result is a fairly close approximation of the number of years required to double your money. For example, if you have $25,000 in your savings account, and you expect to earn 8% interest on your money, then it should take approximately 9 years for the $25,000 to grow to $50,000. At 4% it would take 18 years to reach $50,000. This is a quick and dirty way to see the power of saving. It pays to invest your extra cash so that you take advantage of this growth opportunity . Let compounding interest pave your way to retirement. Sam says: "Whats in your wallet?"

Thank God It's Friday!

What a work week. I have been stuck in a hotel since Monday. Yes, I think I'm becoming the ultimate road warrior. I have been doing this for a few years now, and let me tell you, it never gets easier. I am so glad this week is over and I am finally home. Standing in the airport today I found myself thinking that there are a lot of weird people in this world. Friday travel does something to people. They all had a sort of crazed look on their faces. Maybe it was more of a sad, lost look. Many of them had been away from home all week too. I had the love of my life waiting on me. I am sure many of the people that I was watching roam past the gates of hell, didn't have anyone waiting on them at home. Lonely road warriors! So sad...

Why do we do it. I guess we are all chasing the dream. At least I think its a dream. Is the dream retirement. Is that really what we are all working for? To retire when we grow old? Will we have our health, or will we have nothing left but a tired old body that we abused on the road. Are we fooling ourselves? I hope not. I need a plan, a dream, a vision! Stay tuned!