Putting money into an active investment, such as buying a small business, means you’re putting your money into it and you’re working to grow the company. As an investor, you get paid a portion of profits from the businesses you invest in. Mainvest aims for 10% to 25% returns for investors, but some opportunities can potentially double your initial investment.
- One final option to flip 10,000 dollars is to invest it by using a robo-advisor.
- Unlike investing in real estate, which often requires active management, bonds can offer you a more passive income stream.
- According to money expert Jaspreet Singh’s YouTube video, you can grow $10,000 to $100,000 using five different methods.
- If you want to reach financial freedom or quit your day job, starting a business can be a great method.
Start A Service-Based Business
There’s nothing wrong with going slow and taking time to grow your net worth, so don’t feel like you need to turn $10k into a fortune. One final idea to turn 10k into 100k is to get paid by funding small businesses. Tom also has a YouTube video on some of the best selling apps you can use for this idea. The transaction fees can be a bit steep, but you get to access millions of active buyers on a robust marketplace, so this trade off is often worth it.
If you are a novice investor, enlisting the services of a licensed financial advisor makes sense. These professionals create investment solutions that help you achieve your financial goals. In addition to making recommendations, they can also manage how and where to invest your money.
It’s also a great way to escape the rat race because it’s a passive way to grow your money. Because ETFs are not actively managed portfolios they have lower fees than other options making it one of the best investments to make passive income. From restaurants to breweries, there are plenty of investment options across the country to grow your money.
Passively Invest
Educating yourself and adding to your skill set is one of the best investments you can make. Continue your education with training, certifications, and apprenticeships. The account has no account opening or maintenance fees, and the minimum initial deposit is only $100. It also offers daily compounding interest, meaning interest is earned on both the principal and any interest accrued. M1 Finance offers a variety of index funds from different providers, including Vanguard, iShares, and Fidelity.
Invest in Rental Properties
So, if you’re willing to become an educator investor in this space and do your research, you can consider investing in cryptocurrency to try and turn 10k into 20k. There are also tons of altcoins and projects that are scams or are being shilled by the death of lifo people so they can pull out the rug. But in any case, this recent surge in cryptocurrency has made a lot of people money, as well as caused some people to lose a lot of money.
So, if you’re willing to be patient with your money, you can expect to see a steady return over the course of several years. P2P lending platforms like LendingClub and Prosper connect investors to individual borrowers. While flipping can be a profitable business, it also comes with risks. You need to do your research and make sure you are buying items at a low enough price to make a profit. You also need to consider the costs of refurbishing or repairing items before selling them.
This occurs when a company first offers shares to the public, and is not as common as it used to be. Many investors consider IPOs to be risky, but there is potential for large profits. Index funds can act as a micro-investing venture, as many investors prefer them for their low trading fees. The basic concept of investing involves using money to grow your wealth. One way to invest in cryptocurrency is through crypto trading platforms such as Binance.
Dividend stocks are an awesome method to take advantage of compound interest and make more money. Because of the diversity in an ETF, you won’t have to spend hours doing research or growing your knowledge about companies to invest in and they have low risk. You can even ask the owners questions and see comments from other investors.
In my opinion, the one of the best ways to grow your $15k into $100k, is through real estate investing with Arrived. It offers an accessible route to get started in real estate without needing a fortune. If you want to make quick money, then you can definitely trade day by day to make $100k with a trading capital of $15k. Investing in the right set of stocks is the key to making more money in the stock market. It’s possible to even make more off your $15k investment in the stock market.
Invest in an Active Asset
Overall, investing in REITs can be a smart way to diversify your portfolio and potentially earn a higher return than traditional real estate investing. Just be sure to do your due diligence and understand the risks involved. REITs can be traded on the stock market, making them a convenient way to invest in real estate. One way to turn your $15k into $100k is to invest in real estate debt.
Retirement planning is a long-term strategy, and it’s important to stay disciplined and consistent with your contributions. Consider working with a financial advisor to help you develop a retirement investment plan that aligns with your goals and risk tolerance. However, it’s important to note that investing in cryptocurrency comes with high risk.