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investing

How can I double my money?

Any good ideas?

asked by moneyguy (80)

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Tags:  business  investing  money

answers

There are many ways that you can invest that could result in doubling your money. One way is investing in an index fund that follows the stock market, which has historically increased by 8% per year. You will double your money in nine years this way.

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posted by Maddux (65)
6 votes

There's a formula called the Rule of 72. Take the interest rate available and divide it into 72. That will tell you how long it will take to double your money. The safest way to double your money is, fold it in half and put it back in your pocket.

6 votes

you can double your money through investments. The stock market is a good way to go if you understand the market.

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posted by kklein5 (73)
6 votes

Work twice as hard. There are other ways but they can be risky. aka gambling or putting money into stocks and overtime they might be able to double.But to answer there is actually no written way that is going to DOUBLE your money just like that. work twice as hard i say....

6 votes

If you're looking at a horizon of 3-6 years, Gold or other precious metals is where you want to put your money. This is the best way to protect yourself against inflation in my honest opinion. Gold historically has been a pretty conservative bet.

6 votes

A relatively safe way to increase your cash flow is to either place it in to stocks and bonds, or to put it in to a bank and let it slowly obtain money. A risky maneuver you could try is to take it down to Vegas and gamble it on the tables.

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posted by Champ (549)
5 votes

There is no sure fire, legal way to double your money in any get rich quick scheme. Hard work, though, generally prevails, so the best advice is to look for a way to improve efficiency in what you do and then capitalize on that learning. If there is something which can be done better, do it.

5 votes

the most quickest way to double our income is to invest in the share market, mutual fund etc. there are other opportunities like online business, gambling etc.all these venture are equally risky ventures.

4 votes

The higher the pay rate, the higher the risk. There are no safe ways unless it is invested at 15% for 7 years or 20% for 5 years.

4 votes

Keep the half amount in a saving mode in any bank. With the rest you can either do stock trading, or open a food shop in a good place.

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posted by mahmud (43)
4 votes

That s a good question I must say.Τhat s a subject that troubles me a lot,too.It has been a while that I have been seeking for several ways in order to increase my income.Τhese ways pertain surfing internet mostly.I have been searching for companies that ask for people to participate in surveys and pay them for this.

3 votes

Find a good investment rate at a bank. Putting your money into an account where the money can double if not triple within a certain amount of time.

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posted by mpelle (323)
2 votes

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