Are you in search of the best ways on how to double your money in 10 years? This article serves you the very practical information you need to invest. Now, 10 years is a lot of time. But then, there’s a lot more that can happen and there are different ways to double and even triple your money in this length of time.
Let’s say you invest $10k or $500k, you’re definitely going to double or even make much more than quadrupling your investment in the space of 10 years. These aren’t stale ideas, they work. And here they are.
How to Double Your Money in 10 Years: 7 Proven Strategies.
1. Invest in stocks.
Investing in stocks is one of the most realistic ways to double your money in 10 years. Not just investing in stocks, but investing in the right stocks. If you’re clueless, then you can consult a stock broker, or read about 5, 10, or more of the most promising stocks to invest in. Now, you’re not going to invest all of your money into one stock. You can split the money and put it into different stocks just to be on the safer side of things. Before 10 years, it’s possible that some of these mega companies go bankrupt and they delist their stock off the market. What happens if you invest 100% of your $$$ into that one stock? Total loss, right? You don’t want a scenario like that.
In 10 years, some of the stocks you invest in can appreciate by more than 200%, and maybe not overnight. With time and eventually, the price of some stocks will appreciate. 10 years is a lot of time. And if you diversify your investment in the stock market, you might as well become a multimillion before it’s 10 years. Plus, throw in some bucks in a dozen penny stocks. Now just any penny stock, but promising penny stocks with the tendency to appreciate in price in the future.
2. Invest in real estate.
Landed properties appreciate in price. This alone makes real estate a holy grail for anyone looking to invest long term and reap the rewards later. If you have enough money, you can acquire properties right now and let them mature in price in the coming years. In reality, properties selling for $10k right now or $100k will likely sell for $400k or $500k in 10 years. That’ll be a profit of $40k for every year. Forget about crowdfunding or investing in REITs. By acquiring properties, you’re making the best 10-year investment plan. Depending on how much money you’re looking to invest, you can acquire commercial structures like schools, supermarkets, grocery stores, warehouses, and more.
The value of these assets/properties will skyrocket as long as there’s a management team and you have everything under check. Plus, these commercial organizations will keep generating tons of revenue for you even as they appreciate in value. It’s more rewarding to acquire commercial organizations as real estate properties highly because you can make a fortune off anyone making global headlines in the future (if any does).
3. Acquire leasable assets.
Leasable assets are equipment people lease from time to time for different purposes. They simply can’t buy them, so they’re open 100% to the option of leasing them for the meantime and returning them but with a fee of course (for leasing). So, from time to time you can lease these assets for specific amounts and timeframes. You always have them back for more people to lease them.
And since they’re not the kind of items or assets people use over the long haul (and they’re probably not very useful after certain necessary events), the demand for them is high and temporary for every client and in different times. Hence, it’s your assets against a long-term temporary demand. These assets include:
- Party equipment
- Water sports equipment
- Wedding dresses
- Camping equipment
- Biking equipment
- Construction equipment
- Hiking equipment
- Wedding & event equipment
- Camera & lens
- Canoe & kayak
- Ski & snowboard
These are some of the things you can lease out for money, and in the next 10 years, you must’ve made much more than double of all you invested in acquiring them. Plus, it’s a means of passive income while your investment remains and appreciates. With time, and as you grow your stock of things to lease, you can acquire your own yacht for lease; which can cost over $80k per lease.
4. Build/buy a physical business.
You have the option to either build or buy a physical business in a bid to double your money in 10 years. If you’re starting or building a business from scratch, it’ll take some years to make a nice sum of money and to cover the costs of starting the business. Buying a business that’s full fledged and in operation is a better idea here since you want to keep growing while your profit adds up to make for the cost of buying the business.
Starting a business with $100k, you might probably make $100k after 4 or 5 years of running it. And I mean, net profit. There’s every chance of generating over $100k in a year, gross income. But when you’re done with subtracting expenses, you’ll find out it’s just $40k in net profit that’s all you got. So, you want to get on with an already profitable business so that in 10 years, you’re already soaring in profits.
5. Invest in franchises.
It costs over $10k to start a franchise, but you can’t be making a wrong decision investing in one. Since franchises are representatives of an already grown business, it’ll be easy to gain traction regardless of location. There’s no struggle to make a name; profit is the priority. And like an investor, launching a franchise is soaring on the authority and brand influence of a global/successful company to milk profits. A smart move.
With the brand name, you easily dominate the competition (if they’re not as big a competitor). Maybe it’s more glorifying to build a brand from scratch and watch it grow. There’s already too many brands out there. Getting a franchise is a good way to launch into instant profits with almost zero marketing efforts.
6. Develop in online business.
Whether it’s e-commerce, an online content business or some web tool, investing in an online business is a way to double your money. As the web gains more users and people get more curious (with shortened attention spans), there’s every chance your online business will grow exponentially depending on what it is and what services it offers. However, investing in a web tool that’s relevant and unique to a large number of internet users will make you the most money. On the other hand, you can invest into developing a super relevant software like Canva, Adobe, Photoshop, or PayPal.
When it comes to starting an online business, the ideas as to what you can start are almost limitless. This however might be the most passive income generating option here on this list. Trust, by the end of 10 years, you would’ve more than doubled your investment. Or made a 20× ROI.
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7. Invest in crypto.
A couple of years ago, bitcoin wasn’t worth up to $10 dollars. At one point, it wasn’t even worth $1 dollar. But then, people invested in it. And right now, it’s worth over $10k. Although it skyrocketed in 2021 to over $60k. Right now, it’s around the $10k – $20k mark (at the time of this writing). The point is, there’s no way of telling what coin’s gonna be the next big thing. And with this in mind, it’s wise to have a portfolio of crypto assets you’re looking forward to them going kaboom in price in the next couple of years.
Some will do well, some won’t. But at the end of the day, you’ll have much more money than you invested long-term in crypto. Maybe ×5 of your initial capital. Before taking out your money to invest it in the crypto market, you want to make sure you’re investing in some of the best crypto assets with the strongest use case.
As the case was with investing in penny stocks, it’s also a very wise decision to invest in shit coins (the crypto version of penny stocks). For the record, shit coins have an intriguing history of violently soaring in price over time. Bitcoin was a shit coin. So shitty very few people with foresight (and some out of the fuss of the moment) invested.
How to Double Your Money in 10 Years: 7 Proven Strategies – Final Words.
Some of the best ways to double your money in 10 years include investing in the crypto market, developing an online business, investing in the stock market, investing in real estate, acquiring leasable assets that you can lease from time to time for money, investing in a franchise or multiple franchises, and building a physical business from scratch or buying one. While there are more ways to double your money in 10 years, these are some foolproof ways that work and they don’t generate smidgens of your investments over the years.
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