Money is the most prominent desire in every man’s mind. Why? Well, that is something already understood. You can buy any luxury or material thing with money, be it your favorite car, apartment, hotel, perfume, horse, etc. So there is always a rat race behind the money where people want to earn the maximum amount of money as quickly as possible. They are looking up for investments that could double up their money quickly. However, there are different types of schemes which can boost the invested amounts. Yet most of the people believe that double money is not some easy game as it involves risk and patience to find the right method. If you are a risk taking a person with a brilliant understanding of interest compounding, you can quickly get good money. Try out the PocketOption to invest money in online trading apps.
Thumb Rule of Money Making
There is a famous rule known as thumb rule 72, which tells the amount of time taken to double up your money. This rule states that if you divide the number 72 by the annual returns of your expected money. Then it will deliver you with the exact time period of doubling your money. Just imagine if a person invested 3000 Dollars and expects the return at 10 percent. In this case 72 divided by 10 gives you 7.2 years. This shows it will take around 7 years and 1 month to double 3000 dollars i.e. 6000 dollars.
Now here are the best methods you can try out to double your money quickly.
When we see about the investments in stock markets, we observe that it provides high returns to the investors. As the annual returns of the stock market is generally up to 15 percent. So there is a clear hint that If you invest your money in big companies then there are high chances that you will get doubled money with the time of five to six years. But you should be knowing basic understanding of the stock market so that you don’t lose the money.
Mutual funds are subject to market risks please read the scheme related documents clearly. This is a popular line you must have read and seen in the MFs advertisements. Today there are wide numbers of mutual funds available in the market which are equity, debt, and hybrid and balanced oriented funds. This is basically a way where finance managers invest a pooled form of money in companies. Here the rate of return is high as compared to others. Yet it may take around 6 years to get the money doubled with market risk and volatility of course.
These are the national saving certificates and papers which are issued by the government. As it is authorized nationally it is very safe for people. But if compared to the stocks and mutual funds, it doesn’t give too long a boost in your money. They are available for a fixed time with a fixed interest rate like 5 years. Here a person can double the money after a very long wait period.
Therefore technically, there is nothing as quick as a blink which could give you an increased amount of the money. You always have to stay patient and alert with your money in order to get doubled income.