2007-07-08 07:04:43 · 7 answers · asked by blessathlete 1 in Business & Finance ➔ Personal Finance
Unless you have insider information or are savvy with investments there is no way your money will double soon - could double if you have 10 or 20 years to wait.....
2007-07-08 07:07:40 · answer #1 · answered by Ya-sai 7 · 0⤊ 1⤋
No advice ... but here is a simple approximation.
The number of years it takes to double your money is approximately 72/rate of return. For example, if you earn 9% a year on your investments, the invested money will double in 8 years (72/9).
2007-07-08 14:11:00 · answer #2 · answered by skipper 7 · 1⤊ 0⤋
Millions of people look for the answer to this question every day. You just have to become educated on investing and read articles with investing info, and then maybe someday you'll make a hot investment that does well.
2007-07-08 14:10:37 · answer #3 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
You didn't say how long you are willing to wait for the initial investment to double, or did you ask about rate of return, so I used these examples.
Initial deposit of $1000 in a 2% savings account with no additional deposits would double to $2000 in 35 years.
Same deposit of $1000 in a good mutual fund assuming fund paid consistent 8% return with no additional deposits would double to $2000 in 9 years.
2007-07-08 14:17:37 · answer #4 · answered by mister_galager 5 · 1⤊ 0⤋
Buy real estate and wait five to ten years before you sell it. It is one of the best, solid investments one can make.
2007-07-08 14:10:58 · answer #5 · answered by Rhonda 7 · 0⤊ 0⤋
aid4families.com pays 120%APY. Your deposit is guaranteed and I know several people who swear by this program.
Check it out for yourself
2007-07-10 18:41:18 · answer #6 · answered by kijarra m 3 · 0⤊ 0⤋
I don't know but if you find out please IM me with the info!
2007-07-08 14:07:20 · answer #7 · answered by deb35802 2 · 0⤊ 1⤋