When it comes to compounding money there is the rule of 72 / interest rate that totals the amount of time it takes to double your money. That’s great to know but, there is the lifestyle that you lead that takes money as well. So how can you build upon it? The best way is to decide to set aside at least 15% of your income in a stock account to build the account up and allow compounding money to take place.
We have learned there are multiple ways to compound your money. Stocks (dividend investing), Real Estate, and Life Insurance are the ones we use daily to grow wealth.
How do you pick stocks? That is easier than you realize as well. If you’ve never invested in the market we recommend that you, go to our online store, read The Millionaire Teacher. In this book, You will learn a lazy way to invest in the market, one in which you are completely hands off except once a year or every few years. We have tried this method and it worked well for us. We have, compounding money, doubled our investment during the course of using the method prescribed in the book. Learn how through Too Much Money Course.