Want to double your money in shortest duration, well you are at right place today we will share 10 quick way to double your money.
Time required to double your money depends upon return given by investment option. However there is standard thumb rule called as “Thumb rule 72”.
What is Thumb Rule 72?
Rule 72 will gives you information about time require to double your money. This rule says that divide 72 by expected annualize return and it will give you time when your money will get double.
E.g If you invest 100 Rs/- and expected annualize return is 10% than this money will get double in 72/10 =7.2 years.
Refer to following table to know time required to double your money for expected annualize return.
Also Read – 10 Best Safe Investments in India
10 quick ways to double your money:-
Risky Ways to double money
1. Stock Market:- Stock market investment is one of the quickest way to double your money but stock market is double edge sword where you can earn lots of money as well as loss lots of money. You have to be careful while selecting stocks for investment.
Stock market can give 0-100% return. E.g Those who has invested in LUPIN in Feb 2013 they have got return of nearly 70% in 1 Year. Stock was trading at 569 Rs/- in Feb 2013 and today it is trading on 995 Rs/-.
2. Small Business:- Becoming partner in small profitable business is another quick way to double money. This option is quite risky, which can grow or blow your money.
You have to be 100% sure before investing any money in to business. Small business can give 0-100% return based on various factors.
Also Read – Simple Principal of Investment – Invest 30%
3. Lending Money:- Another quickest way to double money is to third party money lending at higher rate of interest. In this option you can double your money in 4-5 years. Many people today are ready to take money at higher rate of interest.
4. Gold & Gold ETF:- Gold is good investment option which can double your money every 3 years. From 2007 to 2012 gold has given return in range of 22-24%.
From last one year or so gold lost it shine but we still believe that gold is good investment option which can double money in shorter span.
5. Real Estate:- Real estate is another investment option which can double money in approximately 5 years.
From last one or two year real estate market is going down but soon real estate market will boost up.
Safe ways to double your money
6. Mutual Funds:- Mutual fund investment is safe way to double money. Good mutual funds can give return in range of 10-12% and double your money in 6-7 Years.
Make sure you select good bluechip or largecap fund for investment.
7. Company Fixed Deposit:- Company fixed deposit can give return from 11-12.5% and double money in 6-7 years.
Company fixed deposit is slightly risky option; do check company’s financial position before going ahead with company fixed deposit.
Also Read – 20 Investment management strategy
8. Debt Based Mutual Funds:- Debt based mutual funds has yielded 9-11% in last 3 years. Debt based mutual fund can double your money in 7 to 8 years.
9. Bank Fixed Deposit:- Bank fixed deposit offer return of 8 to 9.5% and can double your money in 8 to 9 years.
10. Bonds:- Investment in bonds can give return of 8% and double money in 9 years.
Are you ready to double your money if yes follow the fastest way to double your money given above.
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