Nice Rules of Thumb

I Will Teach You To Be Rich has a simple and useful summary of two rules of thumb that are very useful in the personal finance world. I would highly recommend reading, understanding, and applying these lessons, as they will become invaluable when you are trying to quickly evaluate opportunities that come up in daily life.

Once you understand the rules, without a calculator, computer, or paper and pencil you will be able to:

1. Translate an hourly wage into a yearly salary amount .
2. Know how much time it will take for an investment to double in size.

When you are considering a career change or looking at making an investment it is crucial to understand the financial impact it will have on you.  Wouldn’t it be nice to be able to do those calculations quickly, easily, and in your head?  Take a moment and learn how.