Are you excited to crack the ways how to double 10k quickly? Read more to find 11 legitimate ways to double your 10K along with the risk portion involved with your investment.
There is a direct correlation between return expectations and risk. So, beware!
First and foremost, congratulations on finally having $10,000 on your hands. The numbers might not be that big, but we understand your hustle to reach this point is real.
Of course, you wouldn’t want the money to be wasted all at once with the wrong investment.
If you’re not there yet, you seriously need to adopt effective saving strategies to finally have such an amount in this economy!
If you’re wondering how to double 10k quickly or let’s say, in a month or so, this article will guide you on investing and educating you on the risks and profits involved.
Read the entire article carefully if you want double profit on your investments. But again, with greater profits comes greater risks.
At the end of the article, you’d finally be able to sort the best way to double 10k! Let’s begin.
Having $10,000 on hand could signal that “it’s time” – time to start investing. But if you’ve never invested before, you start to wonder: what’s the best way to put $10,000 into an investment?
You’ll be surprised to learn about the variety of options available as you learn more about how to double 10k quickly. Which one provides the best returns while posing manageable risk?
Well, that’s where we come – ultimately guiding you about the least risky and more fruitful investing and money-flipping ideas.
You will discover the most advantageous ways that can help you double your money from the options of swing trading, cryptocurrency, product reselling, real estate business, IPOs, and locking deals with more customers.
However, beware of the risks involved.
Let’s guide you on how to flip 10k effectively without further ado!
What Is Money Flipping? How to Flip Money?
A specific sum of money can be turned into a larger sum of money through the practice of “money flipping.”
You will find a variety of ways to flip money as there are numerous opportunities for you to turn a profit. However, you must adhere to a specific business model to do so.
Investing, for instance, is a type of money-flipping strategy in which you make a small initial investment, wait for a predetermined amount of time, and then profit from the increase in the value of your investment.
Thanks to the fast growth of technology today, you can benefit from several more opportunities to flip your money in legitimate ways. Read our list thoroughly to find your ideal and the best way to flip 10k.
11 Realistic and Legitimate Ways to Double 10k Quickly
Risk factors are part and parcel of money investment. So, in order to double your 10K investment, you’ll have to take on possible risks.
Don’t worry! Once you follow our money-flipping strategies correctly, there won’t be any huge losses whatsoever.
Here we have enlisted several profitable strategies that can win you double profits as quickly as possible on your 10k investment.
Here you go:
1. Amazon/eBay Reselling
The most strategic and risk-free way to double your 10k is reselling products on popular marketplaces like Amazon or eBay.
You can browse the clearance sections at your preferred retailers and find hot-selling goods to resell. Invest in these things, then sell them for a profit on Amazon or eBay.
For instance, you could check out the clearance items at Walmart. You come across something that is being sold for $10 off. When you scan the barcode, you can see that Amazon offers the same product for $20.
What’s more interesting is that Walmart offers 10 of these items at a discount. All ten of these things are yours to buy, and you put them up for sale on Amazon.
Since they’ll be charging a fee, Amazon will deduct a portion of your profits. With an $8 profit margin per item, you could earn $80 from this single find.
Don’t forget about the risk factor here. Of course, not all items can win you a fortune. So, you must be resilient that soon enough, your items will be sold out too, leaving you impeccable profit margins.
2. Real Estate Investing with Fundraising Apps
Investing in real estate requires the best real estate apps on your phone if you plan to flip your money.
The use of technology has expanded so much in the past few decades. Almost no industry is untouched by technological advancements.
Nowadays, you’d see tons of buyers browsing through the web or different apps to find their sweet home.
You see how the real estate sector has revolutionized, right?
Realtors use online marketing techniques and social media for network expansion and client engagement. Mobile devices can be used to start and complete real estate transactions.
You can begin with the Fundrise app, which actually gets you started with a 10k investment. That’s not it. You can come across many more.
3. Flipping Items On Craigslist
Craigslist and Facebook Marketplace are two additional channels for flipping goods. You can find some fantastic deals on Craigslist, particularly in the free section. Select the items you discover on Craigslist, then add them to Facebook Marketplace.
You can earn immediate returns on your investment by flipping items from Craigslist’s free section.
Investing your time is all that is required, and no money is involved. Craigslist also has other great sections where you can find other great deals.
4. Index Funds
In the stock market, index funds invest in stocks that track a specific index, like the S&P 500.
Investors have enjoyed above-average returns through these low-maintenance stock investments over the years.
However, that might be a not-so-quick method to double your 10k if you’re in a great hurry. Investing in index funds will require a 7-year wait before your money doubles. Well, here the long-term gems come – you get an excellent (ROI) return on investment.
Index fund investments are best made through investing apps like Acorns. You will also receive $10 in free stocks when you open a new account as an added bonus.
5. Peer-To-Peer Lending
Another great way to double your $10,000 is through peer-to-peer lending (P2P). You can obtain loans directly from individual lenders through peer-to-peer lending, which involves lending money to others and receiving interest in return.
A 10% annual return is typical for most P2P lending platforms. Pick a platform you feel comfortable using that is well-known.
Make sure to research the platforms you use because some offer a buyback guarantee.
Mintos, Nibble Finance, and Crowdestor are some of the most recommended P2P platforms.
6. Double Your 10k with Swing Trading
Swing trading requires a lot of practice to master, but when done correctly, it can be very profitable.
It can take anywhere from a few days to a year to double your 10k. Swing trading involves buying stocks that have recently suffered losses and watching for them to rebound.
Take Facebook as an example, where the share price is $100. When the company received some negative news, the share price fell all the way to $60.
Let’s talk about a hypothetical situation.
Despite the bad news, you know that it will pass. The quality of Facebook’s business is still strong, and its financial stability is assured. Your opportunity to purchase Facebook stock at a steep discount has arrived.
7. ETFs Investments
Though exchange-traded funds (ETFs) typically charge lower fees than mutual funds, they are identical to them. It is because ETFs are passively managed portfolios.
They are the best investments to generate passive income because they have lower fees than the other choices.
An ETF’s diversity eliminates the need for you to spend hours learning about the businesses you want to invest in whether they are low-risk.
Lastly, an ETF is a great option if you want to invest in a way that requires less work and makes it simple to increase your capital.
8. Invest in Cryptocurrency
Recent years have seen the emergence of cryptocurrency, which has helped regular investors become millionaires.
A significant portion of society may adopt cryptocurrency as its use grows in popularity. Cryptocurrency is still a young technology, so it might just be a fad.
For instance, you could have bought Dogecoin when each coin cost $0.002. You would have made $0.698 per coin if you had sold your Dogecoin at the $0.70 mark.
You would have earned $350,000 with a $1,000 investment! Amazing, right?
It is still unclear what Dogecoin’s future holds. Dogecoin could rise even further if businesses like PayPal and Square adopt it as an adequate payment option.
Dogecoin could also be overlooked and become a useless coin if something better comes along.
The most important conclusion is that those who made investments at the beginning gained the greatest profits. By making an investment first, you can gain a significant profit.
9. Invest in Bonds
Bond investing is one of the safest ways to invest your money, even though it may not be the quickest way to increase your $10,000 investment to $20,000 in value.
Bonds come in many different varieties, each with advantages and disadvantages that you can explore.
Municipal bonds are one example; while they are one of the lowest risk investments you can make and can hardly cause you to lose money, the returns are subpar.
However, when deciding how to diversify your investments, it’s essential to consider various factors. For instance, you might also want to choose the best bank account to complement your investment strategy.
Usually, the rates offered on bonds and bond funds are lower, but this depends on the market’s state.
Most investors will put some of their money on bonds because they are similar to savings accounts.
10. Flipping Stuff For Money
Flipping items for a profit is more of a decent and entrepreneurial way to double your 10k quickly. Retail arbitrage is another name for it.
Due to the growth of eCommerce over the past decades, this business model has seen a significant increase in sales.
Retail arbitrage aims to purchase well-known products that have a propensity to sell quickly online at a reduced price to resell them.
Examples of it have already been shared above. Just make sure you have profitable items to flip, so you make rich profits.
11. Advertise Your Services And Gain Clients
One way to increase your 10k to 20k is to make money by marketing your services. Every time you promote your offerings, you have the potential to attract more clients.
You can increase your revenue more quickly when you gain more customers.
For instance, if you work as a freelance writer and make $15 per hour, you could make up to $28,000 a year.
Although it may seem like a small sum, as you land more projects or clients, your annual income can rise to over $50,000.
Make use of a small percentage of your earnings to advertise your services.
The more clients you acquire, the more income you earn, and the more money you grow, the happier you will be.
How Can You Invest 10k Wisely?
Put your $10,000 into a diversified, well-balanced brokerage account or a tax-advantaged retirement account like a 401k or Roth IRA to invest it wisely.
You must pay taxes when you contribute to a Roth IRA, but you won’t be taxed when you withdraw the funds when you reach retirement age.
Instead of buying individual stocks, diversify your portfolio by choosing growth, large-cap, small-cap, and international mutual funds to spread your investment’s risk as little as possible.
If one fund performs poorly, another one might outperform the benchmark. You have some wins and some losses, but you do not ultimately lose everything.
Wrapping It Up!
Doubling your $10,000 quickly is simpler than you might imagine. You’d never run out of options for where to invest your money to earn compound interest.
However, steer clear of get-rich-quick schemes at all costs and reconsider your risk tolerance before committing your entire capital.
There are numerous strategies for increasing your money and accumulating wealth, including investing in the stock market, real estate, cryptocurrencies, and other ventures.
Now that you know the ins and outs of how to double 10k quickly, start investing right away!