Play the numbers game and win every time!
Playing the numbers game
Although the public campaigning and voting on the the questions about “playing numbers” is over, this issue is still undecided as the legal campaigning has now begin.
And no matter where you stand on the issue of gaming in the Bahamas you will still have sometime to wait before this issue is finally decided. And while you wait one thing is certain the games go on as playing numbers will continue.
Play this numbers game and win every time
So as the playing continues here is how you can “play the numbers games and win every time! ”
I am sure you have heard that playing numbers is an investment and persons saying that while they may have lose today, they have no doubt that “when my number fall I will win back all the money I have invested.”
However, when it comes to investing, one thing you can always be assured off is that, while risk is inherent in any investment, the key to investing is not to lose money. So if an investment is losing you money, then it is not a good investment.
The question you must always ask yourself when considering investments to include in your financial planning is “what are the ways that I can lose money with this investment?”
You are not ready to invest until you are able to answer this question as you should only focus on investments that guarantees the return of your money first. Once your money is secure then you should consider the “returns” on that investment. And that is why once you learn to play this numbers games you will be able to win every time.
While it is far less visible, it can dramatically increase your financial results. So what is this numbers game? – It is compounding.
Albert Einstein described compounding as “the eight wonder of the world” and you can easily put this force to work for you.
The power of compounding
Let’s say you invests $25 a week for forty years, earning seven percent on this money, how much do you think your investment would grow to?
Believe or not, that investment would yield more than $286,640.00. If you doubled your investments to $50 a week it will yield more than half a million dollars.
That is the power of compounding and with time you can easily double or even triple your money with very little effort on your part.
Understanding the Rule of 72
Rule of 72
Here is another little secret that makes compounding even more powerful and that the “Rule of 72.”
The “Rule of 72” helps you to simply determine how long it will take for your money to double at various rates of growth.
- Let’s say that your money is earning 5% a year in interest. Then you divide 72 by 5 to get 14.4. This means that it will take about 14.5 years for you to double your money.
- If your money is earning 10% a year, you divide 72 by 10, giving you 7.2 years to double your money.
You can also use this rule in reverse.
- Let’s say that you would like to double your money in 6 years. Simply divide 72 by 6 and you’ll see that you will need an average growth of around 12 percent to double your money.
Use this formula and you will able to determine how fast your money is growing.
You will also find “Taking Control of Your Money” workbook ia useful resource to help with getting your financial planning numbers right!
There is no question that you can win big playing numbers, you just have to know which game to play and you can rest assured that these numbers don’t lie!
And remember what Aesop says about it…
little by little does the trick.”