Paisa: Isco Followed Kiya To Life Jinglela..Paisa doubled in few years..| Follow these personal finance rules on how to double your money..

Money: Who doesn’t want double money? That too without any cheating scheme..so what are the golden rules of doubling money..

Paisa: If you follow Isco, then life jingle.. Money has doubled in a few years..

Do you know the golden rule?

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New Delhi : double the money (double rupee) Who doesn’t want that? That too without any cheating scheme (fraud plan), But none of us have a magic wand or Aladdin’s lantern. But the golden rule of doubling money (golden rule) But they need to be understood.

What is the Rule of 72? To double your investment 72. rule of So the rule of 72 can come in handy. This is the most popular rule of thumb in personal finance. According to this rule, if you keep investing continuously, then you will know in how many years the investment will double.

Based on the average compound rate of interest, you get an idea of ​​how many years the amount doubles. If you get 10 per cent annual return on your investment, then according to this rule your amount will double in 72/10 = 7.2 years.

You should invest in different types of stocks, bonds, FDs, savings accounts. Here even if there is a slight loss, even if the average is good, then in about 15 to 20 years you will get double the amount.

The shares will earn an average return of 10% annually. Bond and other debt investments will earn you an average return of 5% per year and a savings account will earn an average return of 3% per year. Taking all these together assuming low risk, it will take at least ten to fifteen years for the price to double.

Assuming 10% return in shares, the amount will double in 72/10 = 7.2 years. Whereas in bonds the same formula will take 72/5 = 14.4 years. But the lowest interest rate is available on savings account investments. So this investment takes maximum time for Damdupp scheme. According to this formula, your amount will double in 72/3 = 24 years.

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Risk has to be considered while investing. Also, responsibility and age should be considered. Hence a fixed income becomes stressful with increasing age and responsibility and limits investment.

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