Tag Archives : Rule of 72

The Power of Compound Interest

The Power of Compound Interest

“Compound interest is the most powerful force in the universe” – Albert Einstein While some may argue that this is a bit of an overstatement, there is no doubt that compound interest is a powerful force in determining your long-term wealth… or lack thereof. In my last blog post, “Double [...]
Double your money faster with the Rule of 72

Double your money faster with the Rule of 72

Do you know how long it will take for your money to double? Figuring this out is easier than you think! No super-computer, NASA rocket scientist, or even a calculator is required! All you need is the Rule of 72. The Rule of 72 is an equation discovered by Albert Einstein, but so easy a 3rd grader can do it. (Yes, [...]
How does money work?

How does money work?

You may have heard the phrases “Make your money work for you” and “Work smarter, not harder”. If you’re like the average hard-working Canadian, you probably work FOR your money, not the other way around, and bust your butt doing it. So how do we begin changing this around? We need to [...]

 


Disclaimer: Any information shared on KnowMoney.ca is for educational purposes only, and does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give advice that relates to your specific circumstances. You are advised to discuss your specific situation with an independent financial adviser.