How to become rich: Nine golden personal finance rules that may help you make money | Ashish Aggarwal
To take control of your money and become wealthy, follow personal finance rules like the Rule of 72 for estimating investment doubling time, age-based asset allocation, and the 50-30-20 budgeting rule. The Rule of 72 can be used to illustrate the long-term implications of these charges to the fee that reduces investment gains. The investment principal of a mutual fund with a 3% annual expense fee will be cut in half in about 24 years. In six years, the amount owed by a borrower who pays 12% interest on their credit card (or any other type of loan that has a compound interest) will have doubled," said Ashish Aggarwal.
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