What is the fastest and safest way to turn $10000 inti $1000000?

Answer 1

stick it in a stock index fund, and wait 40 years....

Answer 2

This requires degrees of realtivity to answer it. Turning $10K into $1M is easy if you have time and want to be safe but as soon as you want it fast and by that I assume you mean in under 40 years (it takes 95 years at 5% compounding) you start to become more risky.

Here are some compounding figures and suggest sources of the returns:
8% takes 60 years (UK bank account I saw recently was offering 8% p.a. interest but you have to watch out for income tax on that return which will diminish the actual performance)
15% takes 33 years so a typical stock market return would help you out but you can't guarantee year on year results and a bad year would set you back.
It still takes 21 years at 25% p.a. compounding which you'd need a private investment in some hedge fund to get that return reliably but unfortunately you'd also need a million bucks spare just to legally be allowed to invest in that opportunity.
It'd take you 12 years at 50% per year in which case you'd need to lend it to someone you don't mind beating the c**p out of to get them to pay your exhorbitant interest fees.
Or you could go down to Vegas and double up on a high stakes roulette table 7 times on the bounce and you'd have $250K or thereabouts extra.

So making it grow that much safely any time soon ain't going to happen so you need to find someone or some group of people with a huge problem, invest the $10K in sorting out that problem and if you get it right they'll pay you more than a million to say thanks.

Wealth is a value thing, the more value you give the more wealth you get and unless you can add value to that $10K you aren't going to have it magically grow for you.

Answer 3

Your numbers boil down to turning $1 into $100 (multiplied by 10,000). The Fastest is to win big at a casino. The problem is, you have a better chance at losing it all than winning. Investing at 12%, it would take more than 30 years. Your best bet is if you can run a business. Use the $10,000 to start the business.

Answer 4

Great idea. Ask total strangers, (whose qualifications and motives can never be known to you) how to invest your money.

Good luck with that.

Keep in mind... the higher the return..... the higher the risk.


You're a dreamer if you really think someone is going to give you the answer to your question (honest or correct). What you want can be done. It takes work. It takes time to learn.

Be real. Buy a couple of books on investing. Learn. Start on this journey knowing nobody will watch your money as close as you.

Answer 5

Send it to me. I'll invest it and guarantee it will get to $1000000 within one year.

Answer 6

Open a brokerage account at Zecco and buy a few Altria shares. (I am Portfolio Manager)

Answer 7

That is an awesome question!! I am going to have to say that if anyone here can answer that question honestly then they are probably "rich" themselves. I wished I knew that answer to that one.