The Rule of 72

Want an easy and fun way to see how money can grow over time? Want to show your kids or grands the magic of compound interest? Let’s look at The Rule of 72:

The Rule of 72 is a method used to calculate the amount of time it might take for your investment dollars to double in value. Here’s how it works. Take the interest rate you are earning and divide 72 by that number. The number you get is the amount of years it will take for your money to double.

Example: Your investment pays 6% interest, compounded annually. Divide 72 by 6; your money will double in 12 years. And it works if you flip it, too: 72 divided by 12 (if your investment pays 12%) is 6; your dollars will double in six years.

Investing money involves risk, of course; always consult a financial adviser for investment hints.

Tech talk tuesday

DEAR HELOISE » I see the term SMS a lot. What’s an SMS?

— Maureen R. in Texas Maureen, SMS stands for short message service — it’s a text message. In order for different devices to communicate with each other, this type of communication system had to be standardized or simplified so all units can understand each other. Thus was born the SMS.

P.S. The first text message, according to some sources, was sent out in December 1992 and read simply, “Merry Christmas.”

Groundhog day

Today is Groundhog Day, the event predictor (according to legend) of when springtime will arrive. The tale goes, if a groundhog pops out of his underground nest and sees his shadow (due to bright weather), winter will last six more weeks. But, if the groundhog does not see his shadow, spring is on its way.

The most storied groundhog is perhaps Punxsutawney Phil, who lives in western Pennsylvania. Interestingly, Phil has a success rate of only 39%, so reliance on him may not be the best indicator of when spring will arrive.

Regardless, it’s a fun tradition that’s been around in the United States since the mid-1800s.

Convo creator

DEAR HELOISE » I work with kids, although this hint is good for adults also. When I’m talking with somebody and we come to an impasse, I can always say, “Tell me more about that ...” It works to ignite a conversation.

— Mark P. in Colorado

How to get rid of furniture marks in carpet

DEAR HELOISE » We were moving some furniture around during quarantine and came upon furniture dents in the carpet. Here’s my easy solution to get rid of them:

1. Place a damp paper towel over the dent.

2. Iron with the steam setting for no more than 15 seconds.

3. Fluff and groom carpet with a fork.

This worked well for us. — Michael W. in Illinois