What is the quickest/best way to flip $1000?

Question

Open to alot of options. Not sure if I should invest this somehow or put in a CD or bond or what. I'm looking for it to grow alot, possibly double in about a year or so.

Answer 1

The stock market is your best bet, assuming you don't need the money in the near term for something important--over the long term the market goes up more than bonds or CDs, but its also more volatile, so you could very easily be down quite a bit in a year.

Try Apple (AAPL).

Answer 2

Good question, I would have to say first that there is no best way, but probably more wrong ways!!!

I think that you have a good goal in mind, which is to double in about a years time, although there will be some hard work involved. A 100% return on any size of investment is a hefty goal, but on that is attainable.

If you are looking into stocks, just be careful about the cost of trading. With a small sum to invest, much of your investment could be spent in trading costs. For example, if you have your $1000, and you get an online trading site that charges you $12.50 a trade...well, there goes 1.25% of your original investment!!! So don't start trading like mad, because you'll lose alot fo your capital in the trading.

A blog that i frequent has an article entitled "Invest with only $1000". It has some good information on what to watch out for when investing with smaller sums like you have.

The link to the site is http://www.finance-your-life.com/?p=23

Happy Tuesday!!!

Answer 3

This Site Might Help You.

RE:
What is the quickest/best way to flip $1000?
Open to alot of options. Not sure if I should invest this somehow or put in a CD or bond or what. I'm looking for it to grow alot, possibly double in about a year or so.

Answer 4

Ok so this is what you do to double your money. You take the 1000 dollars. You buy a crappy car for 800 or 900 dollars. You get it detailed and shined up really nice with the extra 100 you have. then you sell it for 1800 or 2000 dollars to someone around the time tax season is in. That's what i do every year and it helps me make an extra few bucks. this also works with many other items you could buy cheap and flip for more money than you have in it. Everyone knows this is America and at any given moment someone is wanting someone else's junk. Sometimes you may have to tell a fib to get the money but hey it works.lol have a great day.

Answer 5

There is no reliable way to double a thousand dollars in a year. Frankly you're best odds would be to study college sports for the season. Then go to Vegas for the weekend and bet it all on your favorite bowl pick. Hopefully, after a year of study, you'll get your odds up to about 70%.

That's far better odds than you'll get with any investment that has a chance of doubling your money in a year.

By the way, if it is not obvious, this is all tonge in cheek. 100% return in a year is expecting too much. Find a couple index funds and a couple established companies to invest in. If you're lucky you'll grow around 8% a year, but you'll have almost no chance of a major loss.

Answer 6

Of course you want it to grow that fast but if it was that easy we'd all be doing it. So... do you want to gamble in which case roulette is a good option - you lose much more slowly that way, you take a punt on a small cap stock but expect to never see your money again (if you do all's well and good) or take the other advise and invest for 5-10% returns in an instrument where you are pretty sure you'll get at least most of your money back.

Answer 7

Best Way To Flip Money

Answer 8

Double your $1000 with the Sunshine Empire plan.

Answer 9

In order to double in 1 year BEFORE taxes, you'd have to get a 72% return on your investment. No kind of investment currently is going to guarantee even 1/10th of that.

Answer 10

Double in a year or so? You're dreaming, unless you buy lottery tickets with it and get real lucky. If you make 10% in a year, you've done well.