Power of 72

Every heard of it?  Very important number.  Power of 72 is the magical number that you divide the interest you are making on your money by the number 72 and this will give you the amount of years it will take you to double your money.

So if you make 10% on $1000.  It will take you 7years 2 months to double that to $2000.

Pretty cool, I think.  A friend of ours was getting frustrated with how little interest he was making on his Mutual funds once everyone else took their cut.  This money he has had been sitting with them for over 10 years and was told that it would be making 8% (72 divided by 8 = 9 years) so by now his money should have doubled.  But once everyone took their 1-2% cuts he realized that he was only making about 4%  - which would be 18 years that his money would double.  Big difference, right?

That is why if you have someone else managing your money be sure to find the "actual" percentage made.  The there are no unrealistic expectations.

We had recommended to him to take out this fund and put it in a dividend stock that pays 6-8% (which their are alot of.  Then not only will he double his money in the 9 years but compound interest takes place along with reinvesting his dividend!  Adds up pretty fast  - with out paying any money to a fund manager.

Just a little thought.....

Happy Thanksgiving

As the tradition goes, on Thanksgiving we all go around the table and say what we are gratefull for.

I am trying to refocus on my thoughts this year since my mind keeps wondering back to LAST year, when we were getting ready to go to Disney Land!!  Wow, time goes by way too fast.

So with that being said - here is my list of so many things that I am thankful for:

Living in the moment - not thinking about what happened last year ( yes, ehm, Disney Land)

My fabulous husband,  who always makes me feel smart and beautiful.  Who else gives their wives a present on HIS birthday?

My awesome six kids.  For making me appreciate playing hide and seek again.  Seeing life through a teenager's eyes again.  Young love.  Simple hugs and an "I love you".

I thank those kids for making me take my own advice - not focusing on those negative people and comments.  Focus on those that wish you well with nothing asked back.  AND to wish those thoughts on others.  We can have 10 positive things said, but for some reason we seem to pour our energy on the negative.  Switch that around and to those that are negative - maybe they need more positive in there lives?

We are all healthy and happy.  Even after managing those bumps in the road, we come out stronger and hopefully wiser.

Happy Thanksgiving Everyone!