Do you Know what the rule of 70 tells you about your money and inflation ?
Inflation is a dangerous animal
We all work hard to make a living. The money we earn is needed to pay the bills, fulfill our needs and wishes and investing for the future.
However there is something called inflation that comes between our money and our financial goals.
Inflation is the rate at which our money keeps losing its buying power.
In other words it can also be seen as the rate at which things are getting more expensive.
For most people the rate of increase in your salary or income is less than the rate at which your financial needs grow.
So you need to manage your funds better.
Looking at the rule of 70
Rule of 70 is a good way of looking at the the time frame in which inflation eats up your money and reduces your buying power by 50%
The rule of 70 says divide 70 by the rate of inflation the the result would be the number of years in which your money would lose its value by 50%
Suppose the rate of inflation is X then we are looking at a figure
For a more practical calculation let us say rate of inflation is 7%
This means applying the rule of 70 we get
The number we get is the number of years in which your money would become half in value.
Thus if you hold $1000 today its value would be $500 interns of its buying power 10 years down the line.
Inflation is an integral part of any economy
This means money keeps losing its value and thus we have to invest in such a way that we make enough money in terms of the returns to cover this loss of value so that we can live and maintain the same lifestyle that we are living in today.
On that note I must admit that 15th is the day we celebrate as the LPUD in the leofinance.io community.
This means anyone who powers up their Leo by 150 or more Leo tokens can become eligible to win one one of the several delegation prizes.
The LPUD prizes are
10k from @edicted
10k from @investing-dude
10k from @bitcoinflood & @anomadsoul
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60k Leo Power - BAD LUCK Prize from @onealfa
Eligibility for the draw
Minimum powering up 150 $LEO on 15th January.
You Leo Power must not be greater than 25,000 $LEO on 15th January.
No power down since October 2022.
You have at least powerup 150 $LEO in December 2022.
Make a post or a #thread on Leo Finance about LPUD.
In addition to a chance to win the big delegation prizes there is a fair chance that @leo.voter may visit your post and up vote your it.
The Assured Prize
All participants would get a LPUD badge,
In addition the powered up leo would get them some nice curation rewards based on how much LP they hav in their accounts.
Be a part of the LPUD
This is a great opportunity to try your luck and show solidarity with the community. In addition you are boosting your curation rewards.
So why way power up 150 or more Leo Tokens and give yourself the chance of being lucky this LPUD.
good luck guys!
This is very useful I never knew about it.
I am glad I could bring some value to you via my post.
Hope you begin to use this information to your advantage.
Thanks would surely try to use it