If you want to figure out how long it will take to double your money in an investment, you use the “Rule of 72.” But income investors can put this rule to work, too, to figure out just how quickly their dividends will pile up.
I’ll show you how – and I’ll show you five dividend stocks that are on pace to double their dividends in just seven years.
The Rule of 72 is just a simple equation you can use to project the amount of time it would take to double your investment money. The equation:
72 / compound annual interest rate = # of years to double your investment.… Read more