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How to Double Your Money

How to Double Your Money Photo

©Depositphotos/alphaspirit

If only there’s a seed that you can plant in with your money which will grow and double your money in just a matter of days, surely many people will hunt this seed down. But such thoughts and wishes will only remain in the land of imagination. The amount of money we have and how it will grow solely depends on how we make decisions.

But on the brighter side of things, there are still some ways for you to double your finances without stressing yourself too much. Interested? Let me share you some tips.

Don’t rush things out

Most financial experts claim that if you want your money to double up (or even tripled) it’s a good decision to make investments. However, if you have no idea about investments, you should first do your homework – research. Now, once you get the hang of it, pour your cash (not all of it, of course) in solid and non-speculative portfolios. Such portfolios should be a myriad between investment grade bonds and blue-chip stocks. Although the multiplication of your cash won’t happen in as fast as 12 months, it will eventually double up.

Blood in the streets

Financial experts also claim that the best time to invest in something is during the time when there is blood in the streets. This is technically the era when the markets have fallen dramatically and investor sentiment is on the rough side. Of course, these experts are not saying that you should trash, what they want to point out is the fact that there are certain times when good investments transforms into being oversold. This is the perfect buying opportunity for smart and brave investors.

Check out the slow lane

If there are fast ways to double your cash, surely there are also slow ways. This is perfect for those who are afraid or simply not prepared to take the risk. If you’re one of these people, then you may want to check zero-coupon bonds. It will not only give you a safer journey towards multiplying your cash but it will also lead you carefully. Unlike the standard coupon bonds that are overstuffed with challenges along the way, zero-coupon will simply grow towards maturity.

Matching contribution

If there’s one best way to double your cash, that would be the matching contribution you earn on your retirement plan. Well of course this is not a choice for those who are not retired yet. Technically it will not amaze your neighbors or your pet, but beating 50 cents for every one dollar that you deposit is truly a big challenge.

Are these too good to be true?

Technically, no. All these are facts and all of these can work for you. Having no idea about investment doesn’t mean you cannot express it. As what most experts say, it’s wise to make smaller investments to ensure that not all your cash will go down the drain.

Whichever technique you prefer, or perhaps a combination be sure that you know all the do’s and don’ts as well as the pros and cons. It’s important to do further research to ensure that you’re perfectly ready to take on the journey.