2 Investing Tricks to Double Your Money
Actor Will Rogers said, "The quickest way to double your money is to fold it in half and put it in your back pocket." Unfortunately, that folded dollar bill is still only worth $1 -- which is no help when you're trying to build wealth. A better strategy is to invest in the stock market to turn that $1 into $2, and then $2 into $4. Here are two tricks to help you do just that.
Waiting is a tried-and-true method for doubling your money in the stock market. That may not sound strategic or even interesting, but it always works. You can even predict how long that doubling will take with a simple calculation known as the Rule of 72. To use the Rule of 72, simply divide 72 by the annual growth rate. The answer is the number of years it will take to double your money.
Image Source: Getty Images.
Source Fool.com
