How to Motivate Your Kids to Save and Invest: The Rule of 72

Nothing illustrates the magic power of compounding like the Rule of 72, which estimates the number of years required to double your money.

(Image credit: jansucko)

It all began in 1988, the year of my 13th birthday, the year in which I was finally allowed to crack open my first ever piggy bank. This was no ordinary piggy bank. It was the size of a small dog, and was the recipient of 13 years of contributions from not only me, but also from family, friends and anyone else I could convince to feed him.

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Chris Kelly, CPA, CFP
Financial Adviser & Portfolio Manager, Baltimore-Washington Financial Advisors

Chris Kelly is a Certified Public Accountant (CPA) and a Certified Financial Planner™ (CFP®). He holds a B.S. in finance from the University of Maryland and a master's in accounting from George Washington University. Kelly assists clients with the implementation of their personal financial plans, investment tax strategy and overall financial risk management. He takes great pride in maintaining a relationship based on trust, transparency and accountability with each of his clients.