Preparing for Financial Independence/ Retirement.

"MONEY is only a tool. It will take you wherever you wish, but it will not replace you as the driver." That was a quote by Ann Rand. No matter how we look at it, money is important for us in our lives now, and it will continue to be important later. Money may not buy happiness, but a lack of money can almost guarantee unhappiness. Money can in large part determine who we are, …

…determine how quickly your money can double. I'll be very generous and say a bank gives you 3% interest. Divide 3 into 72, which gives you 24, and that is how many years it will take for your money to double at that interest rate. That can be scary when you are fifty years old. Mutual funds, on the other hand, have averaged 12% since 1912. So your money would double every 6 years at that rate if you didn't touch it.