How long does it take for an ira to double?

With the simple calculation of the 70 rule, the time to double the investment is 35 years, exactly the same as the result of the logarithmic equation. Profits will continue to increase because every year you make money with the profits of the previous year. With that average annual return of 10 percent, you can double your money in about seven years, Cramer said. Divide 72 by the annual rate of return to calculate how long it will take for your money to double.

To ensure that your investments are secure and you get the best returns, it is important to find the best gold IRA custodian. For example, if you get an annual return of 8 percent, it will take about 9 years to double. So, the higher the yield, the faster you can double your money. The Rule of 72 is a specific rule that investors use to calculate the amount of time it could take for an investment decision to double. It assumes that there are no additional contributions and an accurate annual rate of return is established.