Question: How Can I Double My Money Quickly?

How can I double my money?

If you divide your expected annual rate of return into 72, you can find out how many years it will take you to double your money.

Let’s say, for example, that you expect to get returns of 10 percent a year.

Divide 10 into 72, and you discover the number of years it takes you to double your money, which is seven years.

How can I double my money in a month?

  • 25 ways to double your paycheck in one month.
  • Make Money Off Your Clutter.
  • Get Paid to Carpool.
  • Use Your Free Credit Card Rewards.
  • Pick Up Your Unclaimed Cash.
  • Get Into DIY.
  • Sell Your Blood.
  • Become an Online Survey Taker.

How can I double 1000 dollars fast?

If you divide 72 by the annual rate of return, it will tell you how many years it will take to double your investment. So for example, if you had an 8% rate of return, it would take 72 / 8 = 9 years to double your money. If you had a 12% rate of return, it would take 72 / 12 = 6 years to double it.

How can I double my money in 2 years?

The rule states that the amount of time required to double your money can be estimated by dividing 72 by your rate of return. 1 For example: If you invest money at a 10% return, you will double your money every 7.2 years.

How can I be a millionaire?

Here are eight ways to become a millionaire.

  1. Develop Your Career and Expertise. Mint Images/Getty Images.
  2. Save Diligently and Invest for Growth. Sean Russell/Getty Images.
  3. Create Intellectual Property.
  4. Build a Business.
  5. Invest in Real Estate.
  6. Hire a Financial Adviser.
  7. Make Smart Investments.
  8. Create a Financial Plan.

How can I get rich with 5000 dollars?

7 Best Ways to Invest $5,000 of Your Savings

  • Save with an online bank.
  • Think about certificates of deposit (CDs) or money market accounts.
  • Consider investing in a Roth IRA.
  • Research online investment firms.
  • Invest in actively managed mutual funds.
  • Go for index funds.
  • ETFs.