How Can I Double My Money In 5 Years?

How can I double my money in 7 years?

If you want to double your money, the rule of 72 shows you how to do so in about seven years without taking on too much risk.

The rule states that the amount of time required to double your money can be estimated by dividing 72 by your rate of return..

What can u do with 20k?

What’s Ahead:Invest with a robo-advisor.Invest with a broker.Do a 401(k) swap.Invest in real estate.Build a well-rounded portfolio.Put the money in a savings account.Try out peer-to-peer lending.Start your own business.More items…

Is 50000 a good salary in India?

For most people in India, 50,000 still remains an unbelievably large amount. India is a poor country with very low per capita income. So in general, it is a very good salary. However, that is not to say it is sufficient for the life you want to lead, that will depend on your personal desires and needs.

Which bank gives double the money?

There is probably no big financial institution which can guarantee to double your investment faster than the post office at present. While bank fixed deposits could be seen as one of the options, which comes with some sort of guarantee on returns, the interest rate offered by leading banks like SBI and HDFC are low.

What investment has highest return?

Here are 3 great options.U.S. Savings Bonds. U.S. savings bonds are one of the lowest risk investment types. … Savings Accounts. … Certificates of Deposit (CDs) … Invest in High Dividend Stocks. … Invest in REITs. … Invest in Crowdfunding Real Estate. … Invest in Corporate Bonds. … Invest in Forex.More items…•

How can I double my money in a year?

The Classic Way—Earning It Slowly The rule of 72 is a famous shortcut for calculating how long it will take for an investment to double if its growth compounds. Just divide 72 by your expected annual rate. The result is the number of years it will take to double your money.

How can I double my money in 5 years in India?

Let’s apply Thumb rule in a reverse way, if you wish to double your money say in 5 years, then you will have to invest money at the rate of 72/5 = 14.40% p.a. to achieve your target. This means you have to invest money in those financial products that will give you a return at 14.40% per annum.

How can I double my money in 3 years?

The rule can tell you how fast you can double your money. Divide 72 by the interest rate at which you are compounding your money, and you will arrive at the number of years it will take to double in value. For instance, you money will double in 3 years if you are compounding at 24 per cent (ie 72/24 = 3 years).

What’s the best long term investment?

Here are the best long-term investments in October:Growth stocks.Stock funds.Bond funds.Dividend stocks.Real estate.Small-cap stocks.Robo-adviser portfolio.IRA CD.

Where can I put my money to earn the most interest?

So, if you have some money set aside and want to earn a higher rate of interest without taking too much risk, consider these strategies.Take advance of bank bonuses. … Consider certificates of deposits. … Build a CD ladder. … Switch to high-interest savings account. … Consider a rewards checking account.More items…•

What will 100k be worth in 20 years?

How much will an investment of $100,000 be worth in the future? At the end of 20 years, your savings will have grown to $320,714. You will have earned in $220,714 in interest.

Is SP 500 A Good Investment?

The S&P 500 index fund continues to be among the most popular index funds. S&P 500 funds offer a good return over time, they’re diversified and they’re about as low risk as stock investing gets. … That doesn’t mean index funds make money every year, but over long periods of time that’s been the average return.

Which is better FD or LIC?

Fixed deposits are best for both short and medium term investments whereas life insurance plans are designed for long term investments. You can invest for a period of as low as 7 days in fixed deposits unlike a life insurance plan wherein you need to invest for at least 10 years. You can invest a minimum amount of Rs.

What investments are the safest?

U.S. government bills, notes, and bonds, also known as Treasuries, are considered the safest investments in the world and are backed by the government. Brokers sell these investments in $100 increments, or you can buy them yourself at Treasury Direct.

Does the rule of 72 really work?

The Rule of 72 is reasonably accurate for low rates of return. The chart below compares the numbers given by the Rule of 72 and the actual number of years it takes an investment to double. Notice that although it gives an estimate, the Rule of 72 is less precise as rates of return increase.