Saving for retirement poses some unique challenges: How are you supposed to prioritize retirement savings against the long list of more immediate goals? How are you supposed to find the motivation to prepare for something that's decades away? How can you quantify the amount you will need to save when you have no idea what your future will look like?
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Even though compound interest is easy to understand—compound interest = more money for you! Those who can potentially benefit most from it (those in their teens and 20s) don't seem to be taking advantage of it. Savings contributions and retirement savings participation rates are falling among young adults.
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Investing can seem like a very risky, complex and fast-moving process. With endless combinations of investment vehicles to choose from, it can be difficult to take your first step as an investor—especially with the knowledge that all investments carry the risk of losing some or all of your money. So why bother?
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If you want to be realistic about your investment earnings and help plan for your future, the Rule of 72 is a handy tool to quickly estimate how many years it will take to double your investment at a given rate. The Rule of 72 works with investments that have compounding interest. You simply divide 72 by the rate of annual return (that's your interest rate). What results is an approximation of how many years it will take for you to double your investment.
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Trends in the Stock Market explains the differences between "bull and bear" markets and discusses how both upward and downward trends represent opportunities to make money.
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