As the old saying goes, “Money makes the world go round.” And if you’re looking to make your world go a little faster, you’ll need to learn how to multiply your dough. So, whether you’re just starting out or you’ve been hitting your financial goals hard, here are 17+ investment options that can help you double 10k quickly!
But before we get started, remember: no one can predict the future and investments always involve some amount of risk. Do your own research before deciding where to put your money! Alright, let’s dive in!
(Note: Some of these examples may require a relatively high initial investment. If that’s not something you’re comfortable with yet, don’t worry – we have other tips coming up!)”
What Are The 17 Legit Ways To Double 10K Quickly?
1. Peer-To-Peer Lending
In recent years, peer-to-peer lending has become a popular way to earn a higher return on investment.
By lending money to individuals or businesses through online platforms, investors can earn returns that are significantly higher than what they would receive from traditional investments such as savings accounts or government bonds.
Peer-to-peer lending is also a relatively low-risk investment, as loans are often secured by collateral.
For these reasons, peer-to-peer lending can be an attractive option for those looking to double their 10K quickly.
Related: Best Ways To Double $20K
While there are no guaranteed returns on any investment, peer-to-peer lending platforms typically offer returns of around 5-10% per year, making it one of the most efficient ways to grow your money.
2. Precious Metals IRAs
Gold, silver, and other precious metals have long been considered safe and stable investments, and over the past few years, their value has only continued to rise.
For this reason, many people choose to invest in precious metals through a Precious Metals IRA.
Precious metals IRAs are a particular type of retirement investment accounts that allows you to invest in gold, silver, and other precious metals without having to pay any taxes on the profits.
Invest In Gold IRA With Augusta
If you’re looking for the best option to invest in a gold IRA, check out our top gold IRA providers list first.
Our number one pick is Augusta Precious Metals – and boy they do offer a lot.
- A+ BBB rating? Check.
- Zero complaints since their inception? Check.
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Read the complete Augusta Precious Metals Review here.
Plus, if you take advantage of their services, they’ll even pay all custodial and storage fees for up to 10 years!
Now that’s what I call an incredible deal.
You’d be hard-pressed to find another company offering even close to that level of value for their customers.
As a result, they offer a great way to invest in precious metals while still maintaining a high degree of control over your investment dollars.
3. Start A Flipping Business
Essentially, the flipping business model involves buying products at a low cost and then selling them at a higher price.
To be successful, you’ll need to have an eye for finding deals and an understanding of what products are in demand.
You’ll also need to be able to invest time and money into repairing and refurbishing the items you plan to sell.
However, if you’re willing to put in the work, starting a flipping business can be a great way to earn some extra money.
Plus, it’s a relatively low-risk investment, so it’s ideal for those who are new to the world of investing.
4. Invest/Start An Online Business And Make Money Online
Okay, hear us out.
Just because you don’t have venture capital money doesn’t mean you can’t be an investor.
You can literally start an online business for less than $100.
And we’re not talking about some get-rich-quick scheme here.
We’re talking about a real business that you can grow over time and even make $20k or beyond.
You could start a blog and share your unique perspective on the world.
Or you could launch a podcast and interview interesting people or sell local products on the Facebook marketplace.
Or you could start a YouTube channel and share your talents with the world.
All of these businesses can be started for less than $100, and all of them have the potential to make you money.
So if you’re looking for a legit way to invest your money, consider starting online businesses.
It may not make you a millionaire overnight, but it could make you some serious cash in the long run.
5. Stock Market
If you’re like most people, you probably think the stock market is only for wealthy people who can afford to take big risks.
But the truth is that anyone can invest in the stock market, and there are plenty of ways to do it without breaking the bank.
For example, you can start small by investing in a mutual fund or Exchange-Traded Fund (ETF).
Or you can use an online broker like Robinhood or Acorns to trade individual stocks.
You can also set up a dividend reinvestment plan (DRIPS), which allows you to buy shares of stock directly from a company and have your dividends automatically reinvested.
And if you’re really looking to get started with no money down, there are plenty of free online resources that can teach you the basics of investing. You can also become a:
- financial analyst and give investment advice to clients
- day trader and speculate on price movements
- hedge fund manager and invest other people’s money
- venture capitalist and invest in startup companies
- stockbroker and buy and sell shares on behalf of clients
The bottom line is that there are plenty of ways to get started in the stock market, even if you don’t have a lot of money to invest.
So if you’re looking for a way to grow your money, stock market investments should definitely be on your radar.
6. Real Estate Investment Trusts (REITs)
REITs are portfolios of real estate properties that are managed by professional investors.
They offer a variety of benefits, including high dividends, diversification, and potential for capital appreciation.
And best of all, you don’t need to be a millionaire to invest in REITs – they’re available to anyone who wants to get started in the world of real estate investing.
There are plenty of REITs to choose from, so you can pick one that aligns with your investment goals.
And if you’re looking for a hands-off way to invest in real estate, REITs are definitely worth considering.
Bonds are essentially loans that you make to a government or corporation.
In exchange for your investment, the issuer agrees to pay you interest over a set period of time.
When the bond matures, you’ll receive your initial investment back plus interest.
Bonds are typically considered low-risk investments, making them an ideal choice for risk-averse investors.
And because they’re relatively easy to understand, bonds can also be a good choice for beginners.
8. Mutual Funds
Mutual funds are pools of money that are managed by professional investors. By investing in a mutual fund, you can access a wide range of different investments, which can help to reduce risk. Moreover, mutual funds tend to be less volatile than individual stocks, making them a good choice for conservative investors.
There are two main types of mutual funds: index funds and actively managed funds.
Index funds track a specific market index, such as the S&P 500, and seek to provide returns in line with that index.
Actively managed funds, on the other hand, are actively managed by professional investors who attempt to outperform the market.
Investing in mutual funds can be a great way to build your portfolio, but it’s important to understand the risks involved.
Be sure to research any fund you’re considering carefully before investing.
ETFs are a type of investment fund that tracks an index, a commodity, bonds, or a basket of assets. They trade on an exchange like a stock and can be bought and sold throughout the day.
Unlike mutual funds, which are actively managed by professionals, ETFs are passively managed, meaning they aim to track an index and require little management.
This makes them low-cost and easy to trade.
Another benefit of ETFs is that they offer diversification, meaning they can help to spread risk across different asset classes.
For example, an investor could hold an ETF that tracks the S&P 500, which would give them exposure to 500 large US companies.
This would diversify their portfolio and reduce their risk.
ETFs are a great way for investors to get started in investing and can be a powerful tool for building a portfolio.
10. Start A Side Hustle
A side hustle is a part-time business venture that you undertake in addition to your full-time job.
It can be something as simple as starting a blog and monetizing it with ads, or it can be a more complex endeavor like dropshipping products on eBay.
Whatever it is, a side hustle gives you the opportunity to make extra money and grow your own business without quitting your day job.
Of course, starting a side hustle takes some work.
But if you’re looking for a legit way to invest money, it’s definitely worth considering.
Not only will you earn some extra cash, but you’ll also gain valuable experience and skills that will benefit you in your future career.
11. High Yield Savings Account
With a high-yield savings account, you can earn interest on your deposited money without having to do any work.
The compound interest rate on these accounts is often higher than what you would earn on a traditional savings account, which means you can earn more money over time with less effort.
So if you’re looking for a lazy way to make some extra cash, then investing in a high-yield savings bank account is definitely worth considering.
12. Crypto And NFTs
Crypto investing can be a great way to make some passive income.
You can buy coins and hold them in a wallet, or trade them on an exchange.
The key is to diversify your portfolio and not put all your eggs in one basket.
In terms of risk, crypto is considered to be a high-risk investment, but the potential rewards are also high.
Just remember that the value of cryptocurrencies can go up and down pretty rapidly, so you need to be prepared for that.
NFTs (or non-fungible tokens) are digital assets that are stored on a blockchain.
They can represent just about anything, from art and music to virtual real estate investments.
NFTs are still a relatively new concept, so there’s a lot of potential for growth in this area.
However, because they’re so new, they’re also pretty volatile.
So, again, it’s important to diversify your portfolio if you’re going to invest in NFTs.
13. Swing Trading
Swing trading involves taking advantage of short-term price movements in order to make a profit.
For example, you might buy a stock when it’s undervalued and then sell it when the price rises.
While this can be a risky strategy, it can also be very profitable if done correctly.
In order to be successful at swing trading, you need to have a solid understanding of the markets and how they work.
You also need to be able to identify opportunities and execute your trades quickly.
However, if you’re willing to put in the work, swing trading can be a great way to make some quick money.
14. Start A Reselling Business
If you’re looking for some legit ways to invest your money, then you might want to consider starting a reselling business.
That’s right, by becoming a reseller you can score some serious profits by selling products that are in high demand.
And the best part is that you don’t need a lot of start-up capital to get started.
So if you’re ready to start making some serious money, then here’s what you need to do.
First, find a niche market that is in high demand.
This can be anything from electronics to fashion or even home goods.
Once you’ve found your niche, start sourcing products that you can sell at a markup.
You can find great deals on sites like Alibaba or even Craiglist.
Once you have your inventory, set up an online store and start promoting your products.
If you play your cards right, you could soon be making some serious profits from your reselling business.
15. Invest In IPOs
An IPO, or initial public offering, occurs when a company sells shares of stock to the public for the first time.
IPOs can be risky, but they can also offer the opportunity for high returns.
For example, LinkedIn, which went public in 2011, saw its stock price increase by more than 400% on its first day of trading.
Of course, not all IPOs will be as successful as LinkedIn’s, but if you do your research and invest wisely, you could reap big rewards.
16. Start An Airbnb Business
With an Airbnb business, you can rent out your home or a rental property to travelers from all over the world.
Not only will this provide you with extra rental income, but it will also allow you to meet new people and experience different cultures.
If you’re interested in starting an Airbnb business, there are a few things you need to know.
First, you’ll need to create a profile on the Airbnb website.
Once your profile is created, you’ll need to list your property and set a price.
You’ll also need to create a description of your rental property and add photos.
Once your listing is live, travelers will be able to book their stay with you.
And that’s it! With a little effort, you can easily start earning money quickly by renting out your home on Airbnb.
Let’s face it: we all want to get rich quickly.
And what better way to do that than by gambling?
After all, if you’re going to take a risk, you might as well go all in, right?
Unfortunately, the odds are usually stacked against the gambler, and the house always wins in the end.
But that doesn’t mean that there isn’t a way to beat the system.
With a little bit of luck and a lot of skill, it is possible to make a profit from gambling.
Of course, there’s always the risk of losing everything, but that’s part of the fun, right?
So if you’re looking for a quick way to make some money, gambling might just be the answer.
Just remember to set a budget and stick to it, and you might just come out ahead.
18. Pay Off High-Interest Debt
If you’re like most people, you probably have some sort of debt.
Whether it’s a mortgage, car loan, credit card debt, or student loan, it can feel like you’re never going to get out from under the weight of it all.
But there are some smart ways to invest your money that can help you pay off that debt quicker than you thought possible.
One of the best ways to do this is to focus on paying off high-interest debt first.
This will save you money in the long run and help you get out of debt faster.
Another option is to invest in a solid financial planning tool that can help you map out a plan to become debt-free.
There are plenty of online calculators and software programs that can help you do this.
Finally, consider talking to a financial advisor about your options.
They can offer helpful insights and advice on how to best invest your money to pay off your debt.
By following these tips, you can be on your way to becoming debt-free in no time.
How To Double 10K Quickly And Not Lose Money FAQs
How can I turn 10K into 100K?
Here are a few ways to turn 10K into 100K:
1. Invest in stocks or mutual funds: Over time, these will typically increase in value, allowing you to earn a larger return on your investment.
2. Start your own business: With hard work and a bit of luck, owning your own business can lead to an increase in profits and, as such, a larger bank balance.
3. Play the stock market: This may be a more speculative option, but if you’re lucky you could see a large return on your investment relatively quickly
4. Use the money to purchase high-yield investments, such as bonds or CDs.
These tend to provide stability and modest returns over time, which can compound to form a larger sum of money if left untouched for several years.
What is the smartest thing to do with a 10K?
The smartest thing to do with a 10K would be to invest it in a solid investment plan that will provide you with a consistent return on your money.
This will allow you to grow your funds and increase your net worth over time.
Can you turn 10K into a million?
Yes, you can easily turn $10,000 into $1,000,000.
What is the quickest way to double your money?
There is no definitive answer to this question.
However, some possible methods include investing in stocks or mutual funds, taking out a loan and investing the money in a high-yield savings account or certificate of deposit, or playing the stock market.
Is It Possible To Double 10K Quickly And Earn Money
Regardless of your starting point, increasing your wealth is attainable if you’re willing to invest in yourself.
While some options may require more money upfront, others are available even if you’re on a tight budget.
The key is to find what works for you and stick with it. With a little effort and consistency, doubling 10k will be a breeze!