wealthy wonders

The 24 Days of Wealthy Wonders πŸŽ„

Posted on by Mr. Financial Freedom

Day 2: What is the rule of 72?

A) How to calculate retirement age
B) How long it takes your investment to double
C) A rule for minimum wage

The Rule of 72 is a simple formula used in finance to estimate the time it takes for an investment to double in value at a fixed annual rate of return. By dividing 72 by the annual interest rate (as a percentage), you can quickly approximate the number of years needed for the investment to grow twofold.

Day 1: Which billionaire once went bankrupt?

A) Elon Musk
B) Walt Disney
C) Jeff Bezos

In 1920, Walt Disney‘s first business, Laugh-O-Gram Studio, went bankrupt due to poor financial management and an inability to cover production costs, despite producing several short films. This failure forced Disney to move to Hollywood, where he eventually founded the Disney Brothers Studio (later The Walt Disney Company), setting the stage for his later success.

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Mr. Financial Freedom

Mr. Financial Freedom was created by Daniel (30-something) who got inspired by many very popular money blogs. Daniel is from Germany and currently employed as a Computer Engineer and started 5 year ago the road towards financial freedom. His goal is to reach financial freedom with a 4 step plan. Check the "About" page for more information.

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