In order to live my desired life style, I have determined that the value of my retirement portfolio must double. Assuming that there are no further contributions to my portfolio and that , for the foreseeable future, I can earn a 4% annual return on my portfolio, how long must I wait to retire?
Would it be best to use the Rule of 70 to answer this? This is mentioned in my assignment, however Rule of 72 is not covered. If so, what would be the formula with Rule of 70?