Interesting

How can I double my saved money?

Author 0 comment

How can I double my saved money?

Here are some options to double your money:

  1. Tax-free Bonds. Initially tax- free bonds were issued only in specific periods.
  2. Kisan Vikas Patra (KVP)
  3. Corporate Deposits/Non-Convertible Debentures (NCD)
  4. National Savings Certificates.
  5. Bank Fixed Deposits.
  6. Public Provident Fund (PPF)
  7. Mutual Funds (MFs)
  8. Gold ETFs.

What should I do with 50k savings?

Here are ten ways to invest 50k.

  1. Invest with a Robo Advisor. One of the easiest ways to start investing is with a robo advisor.
  2. Individual Stocks. Individual stocks represent an investment in a single company.
  3. Real Estate.
  4. Individual Bonds.
  5. Mutual Funds.
  6. ETFs.
  7. CDs.
  8. Invest in Your Retirement.

What should I do with a large amount of money?

What to Do With a Lump Sum of Money

  • Pay down debt: One of the best long-term investments you can make is to pay off high-interest debt now.
  • Build your emergency fund: Every household should have at least $1,000 saved in an easily accessed emergency fund.
  • Save and invest:
  • Treat yourself:
READ:   Why is the Latvian flag red and white?

How long does it take for money to double?

The rule says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.

What is the best way to Double Your Money?

Speculative ways to double your money may include option investing, buying on margin, or using penny stocks. The best way to double your money is to take advantage of retirement and tax-advantaged…

How can I double my retirement savings?

Saving for retirement is the easiest strategy to double your money and is a cornerstone of smart personal finance. Most employers offer to match what you contribute to your 401k plan. If they match 5\% and you earn $50,000 a year, that is $2,500 in free money just by contributing to your retirement fund.

READ:   What are the different ways to wear Kurti?

How much time required 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.

How to Double Your Money with 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.