To use the rule, divide 72 by the return on investment (the interest rate your money will get). The answer will tell you the number of years it will take for your money to double. Divide 72 by the annual rate of return to calculate how long it will take for your money to double. For example, if you are considering investing in a Gold IRA, you can compare Gold IRA companies to find one with an annual return of 8 percent.

It will then take about 9 years to double your money. So, the higher the yield, the faster you can double your money. Do you know the rule of 72? It's an easy way to calculate how long it will take for your money to double. You can probably have twice as much wealth in 10 years if you invest it in stocks, or 72 years if you go to a savings account.