Comments on: The Rule of 72 – By a “Good Looking, But Not Quite Sexy, Budgeter”

By: J. Money

J. Money — Sun, 08 Jun 2014 19:19:58 +0000

In reply to J.P.. Yes, why did you bring that up again? ;)

By: J.P.

J.P. — Sat, 07 Jun 2014 00:24:02 +0000

A little late to the party, but you can use the Rule of 72 in other ways as well. If you assume that inflation runs at 3% per year, 72 divided by 3 equal 24, meaning cost of living will double about every 24 years. So while you may think you can live off a certain income level now, remember it will take DOUBLE that to live the same level of lushness a quarter of a century from now.

Depressing math, I know, but very helpful when doing projections of what one is going to need at retirement.

By: J. Money

J. Money — Wed, 28 May 2014 00:59:12 +0000

In reply to Jacob.

I’d call that sexy, not lame :) Compound interest works in the opposite way too so you’re still financially killin’ it each time that mortgage payment goes out! You’ll move to hardcore investing when we’re all still scrambling to pay off our damn houses, haha… pros and cons either way :)

By: J. Money

J. Money — Wed, 28 May 2014 00:56:51 +0000

In reply to EL @ MoneyWatch101. It could be worse - you could be in debt and the interest is compounding the OTHER way! ;)

By: J. Money

J. Money — Wed, 28 May 2014 00:52:33 +0000

In reply to Aldo R @ MDN. Go for it! We need to tell every person who's willing to listen! :)

By: J. Money

J. Money — Wed, 28 May 2014 00:51:48 +0000

In reply to Cat@BudgetBlonde. Your dad would be in good company here :) Tell him to stop by and say hi!

By: J. Money

J. Money — Wed, 28 May 2014 00:50:44 +0000

In reply to JeremyNorton. The napkin part of the whole thing really seals the deal. Can't look at them the same anymore :)

By: J. Money

J. Money — Wed, 28 May 2014 00:49:21 +0000

In reply to Stefanie @ The Broke and Beautiful Life. Yes! Perfect!! Exactly what you (and others in the same boat) should be doing. Hell, it's what we should ALL be doing regardless of income!

By: Even Steven

Even Steven — Tue, 27 May 2014 20:07:39 +0000

“Something to think about on this beautiful Memorial Day! Doing stuff in life that’s important to you vs. slaving away for the almighty buck.”

This is my takeaway, when in Rome.

By: Jacob

Jacob — Tue, 27 May 2014 16:51:02 +0000

I love doubling my money! I feel lame for having tied a lot of my funds up in my house, but bought at a good time and the ROI has been pretty good thus far. Hoping to capture the equity, lower my payment, and get to maxing out my retirement account very soon (in a few years) :)