The Rule of 72
Do you know how long it may take for your investments to double in value? The Rule of 72 is a quick way to figure it out.
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The first National Women’s Equality Day was in 1971. Women couldn’t get credit cards in their own name back then. And if a woman became pregnant, she could be legally fired. Thankfully, a lot has changed, but some things haven’t. Women still do not receive equal pay for equal work. The gap is roughly 20%1, and women continue to live longer than men, now by an average of seven years.
Maybe your middle schooler is already hip to saving. Many kids this age do chores and earn allowances, perhaps putting part of what they earn into a savings account for college....
How much could you save now and in the long-term?