5 Ways to Double Your money

Who doesn’t wishes for their money to double over the night? We sure do. However, this is not possible if your money stays there sitting in your pocket.

Unlike scams that make false promises like “Double your money, fast! We have five (5) tried & tested method of doubling your money:

Invest in a 401 (k) plan

The safest and the easiest way to double your money is by setting up a 401 (k).
Not only does putting money in 401(k) plan reduces income taxes it also provides you with an opportunity to increase the amount when you employers matches your contributions.

Purchase Bonds

Bonds are like fixed-income investments. They are loans that you offer to a company or the government in exchange for interest payments. Purchasing bonds are a good way of more money from the money that already process. However, as nothing comes without risks, you are at the risk of losing your money in case the company that you invest in goes down. “The two main functions of bonds in an individual’s portfolio (and not as free-standing assets) are hedging against equity risk and generating steady income”

Real Estate

If you like risks, we suggest that you set your eyes on foreclosures and retain a house as rental. While the rent will cover the mortgage, any additionally amount, could be a surplus.

Stocks

Although stocks come with a risk of fluctuations and it might take some years to double your money, but if you invest wisely, you could make a hefty amount. “The historical average annualized return of the S&P 500 index from 1926 to 2010 was about 12 percent. At 12 percent rate of return, you could double your stock market investment in six years.”
However, it is important to note that stocks fluctuate and require a lot of patience.

Set up a small business

Successful businesses not only double your base wealth, but they also provide you with a steady source of income. If you’re already working a full time job, you can always set up a small side business with a friend or partner. However, make sure that you give your business, no matter how small, enough time and effort. Many small businesses fail due to owners’ lack of time and dedication to the cause.

Canadian Cash Solutions - Looking For A Loan?

What would you like to do?