MAGIC CALCULATOR FOR STOCKS HOW TO

Regarding retirement, she says, “That’s the only thing I’m saving for right now. And then we’ll have $1.6 million by 65.” The Rule of 72 is a simple way to see how your investments increase over time.ĭunlap calculates her $6 million retirement figure based on how much money she currently has invested. Using the rule of 72, I could calculate how much money that $100,000 at 25 will turn into by the time I’m 65 and set to retire. “Her First $100k started because I had saved $100,000 at 25. That’s 10 years for your money to double,” she says. This number assumes that you invest in index funds, a recommended strategy in which you buy a broad bundle of stocks that represent the entire market.ĭunlap puts her numbers to the test: “72 divided by 7 equals about 10. Other people might push their estimate to 10%. Dunlap says she estimates on the more conservative side, which is 7%. You begin with the number 72 and divide it by the average annual rate of return you can expect from the stock market. Where: Interest Rate = the rate of return on an investment According to Dunlap, it’s the best way to predict how much your money will grow once it’s invested, and can help you keep your savings goals on track. The Rule of 72 is a popular shortcut to calculate the enormous benefits of compound interest. Dunlap also has a dedicated health savings account ( HSA) for health-related expenses.ĭunlap calculates the growth of her investments by using the Rule of 72. The Money Rule Tori Swears Byĭunlap’s investment portfolio consists of three accounts: a Roth IRA, a SEP IRA which she is actively converting to a solo 401(k), and an individual brokerage account.

MAGIC CALCULATOR FOR STOCKS HOW TO

Her main mission is building her business, investing for the future, and helping her community fight the patriarchy by learning how to invest and save for the future.ĭunlap shared the biggest mistakes she sees young investors make - read on to not make these mistakes yourself. With her podcast Financial Feminist often hitting the number one spot on Apple’s business podcast rankings, beating out more established names like Dave Ramsey and Joe Rogan, and a forthcoming book with HarperCollins set for a 2022 release, Dunlap is on top of the personal finance world. The sexy part is me building wealth and being able to retire and being financially independent,” says Dunlap. It should be index funds over a period of decades. Unlike many other investors, Dunlap isn’t all that interested in get-rich-quick ideas or fads of the moment. By the time Dunlap hits retirement age, she projects she’ll have $6 million invested in the stock market. She had a plan to save $100,000 by age 25 and reached her goal in 2019. By next year, she will be financially independent, meaning her investments will earn enough interest for her to live off of - and she wouldn’t have to work another day if she didn’t want to.ĭunlap launched her side hustle-turned-main-hustle in 2016 when she was 22 to document her personal finance journey. She sells financial education courses, and says her business is on track to earn seven figures this year. “I don’t plan on retiring any time soon.”Īs the founder of a financial education business, Her First $100k, Dunlap says she has taught 1.5 million women (and some men) about saving money, building long-term wealth, and investing for retirement.

I own a business that changes women’s lives,” says Dunlap. “Everyone’s going to say, ‘But why are you retiring?’ I’m not planning on retiring. She wants to continue to use her platform to educate women on investing and reaching financial independence. Tori Dunlap is 26 years old and on track to retire earlier than people twice her age - in fact, if she wanted to, she could retire next year.īut that isn’t her plan. For more information, see How We Make Money.

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Magic calculator for stocks