- Inflation – If inflation averages 3%, your money will lose half its value in 24 years (72 / 3).
- Long-Term Care – If the cost of long-term care increases by 4%, it will be twice as expensive in 18 years (72/4).
- Debt – If your credit card charges 24% interest, you will owe twice as much in 3 years!
- Economic Growth – If America’s gross domestic product grows by 3% per year, the size of our economy will double in 24 years.
Compound interest is powerful; make sure it works for you and not against you!