I was always told that by investing in government bonds I could double my money in 5 yrs, but now realize this isn't true. How do I double my money in five years without necessarily risking my money in the stock market? Help me be money savvy!!
2006-10-10 10:55:33 · 6 answers · asked by DebEgirl 3 in Business & Finance ➔ Investing
100% in five years is 72/5 = just over 14% a year compounded (rule of 72).
There are a few ways to do that, but the market's the simplest. Learn the market and it'll serve you a lifetime.
Outside of investing there are a lot of other avenues to learn to make money (especially passive income) which will get you closer to retirement. Most of them will require you learn / apply a new skill.
There are internet businesses, real estate ventures with everything from foreclosures to tax liens, multilevel marketing, etc.
Your best bet should be to gain some education on expanding ways to attract money. I recommend the following to start.
Rich Dad Poor Dad by Robert Kiyosaki
Secrets of the Millionaire mind by T. Harv Eker
From there, you'll start to see more and more opportunities come your way as you'll suddenly be seeing things that may be currently present, but have been filtering.
If you have any questions, please let me know. You can also look through some of my previous answers for things of interest in investing, etc as well.
Good luck!
2006-10-10 11:06:18 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
It will be difficult to double your money in five years legally. Go to www.invetopedia.com and do your research. Astute investing is a long term learning process. You might also look at www.vanguard.com for sound information.
2006-10-10 11:05:27 · answer #2 · answered by DelK 7 · 0⤊ 0⤋
I commend you on your interest to regulate your funds even once you're nevertheless on college point. i in my view began somewhat overdue, so i in my view do get excitement from those youthful people who plan their destiny and are in charge for his or her funds there are a number of web pages, for you to use to be taught extra approximately making an investment. I advise you hit upon and examine those web pages first so which you would be taught lots. examine the corporate component to the newspaper so which you're able to additionally understand the marketplace traits. in case you in addition to mght understand a stable financial guru or mentor, it is going to be extra perfect so as that they are able to lead you on the ins and out of the corporate. inventory marketplace making an investment is extra perfect in case you will do it on an prolonged-term foundation on the grounds which you will earn extra by using compound interest. paying for and advertising on the different hand, is very volatile, and can reason you extremely some losses extremely while you at the instant are not an authority in timing the marketplace.
2016-11-27 19:58:51 · answer #3 · answered by hillhouse 4 · 0⤊ 0⤋
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http://investing.sitesled.com/
Good Luck and Best Wishes!
2006-10-10 17:01:53 · answer #4 · answered by stock.trade 1 · 0⤊ 0⤋
I agree with real estate as being a good investment and you can do it with a relatively small amount of capital. Find more information on
http://www.free-legal-document.com/become-a-landlord.html
Hope it helps
2006-10-10 11:41:00 · answer #5 · answered by finn 3 · 0⤊ 0⤋
Get a good education in real state and invest in real state.
2006-10-10 10:58:49 · answer #6 · answered by Artguer 2 · 0⤊ 0⤋