What is the best & safest way to quadruple $1000 in one year?

Question

I have $1000 that I would like to turn into $4000 in one year. What would be the best and SAFEST way to do this? In one year, the $4000 would be spent at one time in one place. I am employed, so "save $3000 more" is an option, but not the only one. Ideas? Let's see them!

Answer 1

If you try to QUADRUPLE your money in one year, it is NOT safe, period. Try to turn your $1000 into $1200 in the stock market and save the rest. Or you can start with $1000 in stocks, then add your paychecks each week. You should get to $4000 in no time.

On the flipside though...If you won't miss that $1000, you could always try somethink riskier. Try poker for example. You can turn $1000 into $4000 pretty easily in 1 year if you do it right. But it is risky.

Answer 2

There is no "safe" way to quadruple money in one year (other than saving). The best interest you can hope for in today's market is only about 6%, which means you'd earn only $60 in one year. If you invest in conservative stocks, you might earn more (an average of about 10 or 12% in the long run), but you might also lose money if the market turns down (as it has this month). You could "bet" on a series of risky, volatile stocks that might pay that sort of money, but you would be far more likely to lose your original investment. Likewise, you could literally bet on a horse race (assuming it is legal in your state), but 3-1 horses win less than one third of the time - so your chances of winning are thin. In short, there is no safe way to do it, except to save about $250 per month for the next year.

Answer 3

a 300% increase in a stock that is relatively safe is probably not going to happen so that leaves you with the option to take advantage of these nice CD rates of over 5%. Put your current money into a 3 month CD and continue to roll over that 1000$ into new CD's until rates start going down. Save money that you make and put that into 3 month CD's unless the rates go down, if that happens then secure the current rate and put it into a CD for the rest of the year. If you save enough money you can probably make it to 4000$ by the end of the year. If you decide to go with a stock go with Boeing Company (BA).

Answer 4

Put it into stocks or IRAs but it would not be that much more in such a short amount of time. The safest way is to keep it in the bank.The best way is to keep saving and banking it.

Answer 5

The best way would be to bet it on red in roulette, unfortunately there is no safe way to quadruple such a small amount of money.

Answer 6

i'm in a Revelation type suitable now & it is only my perception- Jesus will reign, and human beings won't sin-so no crime-throughout the time of those one thousand years-and no one will die. infants will nevertheless be born. on the tip-devil would be released one greater time to tempt anybody because of fact God is truthful. absolutely everyone interior the previous had to make the choice to be for or against God, so the folk in the time of the single thousand years would desire to decide too. even although they understand that there is a God because of fact they have seen Him, some are believed to nevertheless turn against Him, and that they'll circulate to hell. some human beings ask-"Why can we be forgiven of all out sins and those interior the single thousand years heavily isn't forgiven for his or her one rebel?" i think of that that's because of fact they observed God, they understand for a undeniable fact that he's real. and that they nevertheless denied Him. on the instant, we've self belief that God is real and function faith-so God provides us greater opportunities and attractiveness. i'm hoping that made sense and replied your questions!

Answer 7

Man, I don't think you're going to find a safe way to earn a 400% return in one year unless you gamble... and you're good at it, haha.

Answer 8

loan shark!lolol

Answer 9

there are none. Too bad you think so, though.

Answer 10

fold it in half, twice.