3 Investing Tricks to Double Your Money – The Motley Fool

“Step right up! Double your money!” It sounds like a scam or a carnival barker, right? But doubling your money isn’t just a pipe dream, or something that only happens over many decades.

Here are three strategies for doubling your money. Ideally, you’ll be able to double it — and then double it again!

A happy young woman is sitting at a cafe with hundred dollar bills in her hand.

Image source: Getty Images.

No. 1: Invest for a long time — and regularly

Sure, you can double your money over several decades, but that’s if your money is growing at a rather slow rate, such as if it’s in a bank savings account, money market account, or certificates of deposit. You can probably do better than that, such as by investing in stocks.

Also, invest regularly. If you’re aiming for a nest egg sufficient to support you in retirement, it’s probably not going to be good enough to invest a chunk of money once and then wait for it to grow, or to add to it occasionally, whenever you have some extra cash. Ideally, you should be socking away money regularly — perhaps every month or quarter — and meaningful sums, too.

It needn’t take many decades to double your money, but it will take some time — and determination. Check out the table below:

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Growing at 8% for

$5,000 invested annually

$10,000 invested annually

$15,000 invested annually

10 years

$78,227

$156,455

$234,682