How to Double Your Money in 5 Years: 8 Profitable Ways

5 years is a lot of time to double an amount of money, and it depends on the amount of money we’re looking at here. If you want to learn how to double your money in 5 years, then this article was crafted just for you. Right on this page, you’ll get to learn the best ways to double your money in the space of 5 years. These ways work for real, and if you really incorporate a reasonable amount of focus, you can more than double your money in 5 years. 

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Maybe you could triple it. Or have a quadruple of whatever you started with. With that said, here are 8 profitable ways to double your money in the space of 5 years. 

How to Double Your Money in 5 Years: 8 Profitable Ways. 

1. Invest in real estate. 

You’ve got 5 years, and the option you’re looking to explore right now is real estate. Doubling your money can happen with real estate in one year. But let’s be really generous with time. In 5 years, there’s a lot you can do. And when it’s real estate, there are tons of things you can do to double your money. Many boring things like crowdfunding, and investing with RELPs. These are great ways to invest in the real estate world, but then they take so long to get you your money back. 

For quick and heavy returns in 5 years, you can buy properties and leave them to mature in value by the day. Another great way to double your money in 5 years or less is to flip houses. You buy a house for $54,000 dollars and resell it after two months for $60,000 dollars. Or resell it outrightly. Or resell it for $150,000+ dollars after 3 years. Maybe $200,000 dollars after 5 years. It’s a great way to invest in real estate with a promising ROI. Lastly, you can build commercial properties like rental properties, supermarkets, hotels, and maybe malls. 

In 5 years, you’re sure to get more than your money. And that’s if you have enough money to pour into these investments. With a smaller capital, you can leverage real estate crowdfunding online starting with platforms like Fundrise, and invest in real estate investment trusts. With Fundrise, you can invest as little as $10 dollars, and they’ve got different plans for different budget sizes. 

2. Start a car dealership business. 

Another way to double your money in 5 years is to start up a car dealership business. I mean, with under $50,000 dollars you can start up this business in the United States. There are good cars that you can start with and it doesn’t have to be 100 of them in your portfolio of vehicles. 

Start small and in 5 years, you should more than quadruple your money. However, a lot goes into starting a business like this one with the hope of making much more money than the one you started with. Picking the best cars to sell, surviving the most sought after vehicle brands, signing paperwork and all of that. It’s a lot of work really to get started, but firstly, to get confused, get to know what it takes to start a business of this nature. 

3. Launch a boutique. 

Launching a boutique is a great investment that can generate a lot of money for you. With under $50,000 dollars, you can get a boutique up and running in the United States. Yes, a clothing store. And this in turn will fetch you more money than you can possibly imagine. People buy clothes every single day, and other than having the perfect clothing store/boutique design, you need to get it right first with the location of the business. 

In the long run, you can set up an e-commerce store online for US residents alone so that it’s easy to get your products to customers in their homes. Forget about doubling your money in 5 years with a clothing store; if all things are done correctly especially with the location, you could double your initial capital within 1 year of solid operation. 

4. Invest in the stock market. 

To anyone (other than you) looking to make money or double money, stock trading is one of the most realistic options I’ll recommend day and night. To you, you must learn to trade the stock market first and take little profits from the trades you execute. While it takes time to learn to trade stocks, you might want to dedicate the first year to learning everything you possibly can about the stock market and trading stocks. It’s fun when you start to get the grasp of things. 

And everything can seem really confusing with your mind spilling questions upon questions about the stock market, its essence, and a bunch of the concepts behind stock trading lexicons. Even as a beginner, you can double your money in 5 years if you trade with the best strategies, implement risk management strategies, and tame your emotions. To start trading stocks, signup on Robinhood today. 

5. Start an online business. 

Online businesses have enriched a lot of people today. And that’s still happening till this moment. Want to learn how to double your money in 5 years? Then start an online business. There are dozens of businesses you can start online with some of them being: 

  • Blogging
  • YouTube
  • E-commerce
  • Dropshipping
  • Amazon FBA
  • Course sales
  • Affiliate marketing
  • Web tool development
  • Game development
  • Crypto exchange development
  • Online delivery services
  • Premium services agency 

There’s lots more. But these are some of them that you can get started with if you’re looking to double your money in approximately 1,825 days. My top recommendations include starting a blog right now, launching a YouTube channel, starting an ecommerce business, game development, and crypto exchange development. These are the best right from the cheapest options (blogging & YouTube), to the most expensive (e-commerce, gaming, crypto exchange). 

6. Build a restaurant business. 

Food is life. Do you agree? Well, you don’t have to. But you will eventually after staying without food for the next 2 weeks. You’d kill to get an aroma. Launching a restaurant business in the city is one of the ways to double your money in 5 years. I won’t be going into all the details here as to how you can start up a restaurant business, but the point is there’s no limit to how much money you can make after a couple of years running your business. With time, you’ll grow and make tons of money, much more than your starting capital. 

Now I’m not saying you’ll grow even if you don’t make any attempt to grow the business or upgrade with time. There’s massive competition, and you won’t be the only one running a restaurant business in the city or on the street. Just for the record, McDonald’s didn’t look like McDonald’s in 1955 when it started. Thanks to civilization, you can grow at a faster pace. 

Everything takes time to grow. Maybe you’re starting out with just $10,000 dollars now, there’s a lot you’ll put in place. You’ll hire more hands to work for you, and if you’re not a cook, you’ll need to have a few of them sitting around. To make things easier, you might want to work with people who have enough pre launch and post-launch restaurant experiences. 

7. Build your hotel.  

This idea joins the list of the most expensive on this list. Building a hotel in the right place in the US can throw back ridiculous profits in the long run. And the short run too. It doesn’t have to be 200 rooms. Let’s say, 50 rooms; low cost but super quality and exotic hotel in the most favorable spot in the United States. 

If you build in Dallas, San Antonio, San Jose, Phoenix, Chicago, Philadelphia, Houston, San Diego, Los Angeles, and even New York 🔥, you’ll get your money back; doubled and topped in a couple of months. These are some of the most populated cities in the United States. Plus, you don’t need to reside in the city where you’re building. It’s business. And if you want to make so much money, be ready to invest in places you don’t have homes. 

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8. Launch a laundromat. 

Typically, a laundromat is a moneymaker. Often regardless of the location of the business, the tendency to generate bags of money every month is super high. But then, it’s costly to start up one. It’s not the cheapest on the list, and also not the most expensive on this list. Plus, laundromats can guarantee steady inflow of passive income; what Robert Kiyosaki would refer to as “cash flow“. In 5 years, your laundromat will make tons of money and all that. It’s worth noting that starting a business like this costs a lot of money. 

We’re talking about nothing below $20,000 dollars. Yes, heavy machines and equipment costs that much money. Again, it’s a self promoting business. You won’t need to run adverts online or pay for promotional campaigns to attract the right audience. Pretty much everyone putting on clothes makes up for your target audience. 

How to Double Your Money in 5 Years: 8 Profitable Ways – Final Words. 

In the space of 5 years, you can double your money by launching a laundromat of your own, investing in real estate, starting a car dealership business, investing in the stock market, building a restaurant, starting a business on the internet, and developing a game app of your own. For sure, all of these ways to double money are realistic, and some time more time to generate more profit than others. 

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