Understanding Rule of 72 and how Indexed annuities help you to grow your wealth
May 14, 2020 by Howard S. Blanck
In this follow-up from last month’s look at indexed annuities and life insurance, we will take a closer look at these annuities and a financial concept not usually taught or widely understood.
Before we get into some of the basics of these great investments, the financial concept which has created vast amounts of wealth should be understood, and it’s called the Rule of 72.
Here is an example: Suppose you have $1,000 and invest it at 3% and the money just sits for 48 years, how much would you have at that point?