23 Best Ways To Turn 10k Into 100k
The question “How do I make more money?” is very common. It’s the number one financial goal on most people’s lists.
The good news is that there are several ways out there through which you can grow your money. It can take some time to grow your money from 10k to 100k, but it is achievable if you are willing to commit to your chosen investment method.
1. Invest In Index funds
Index funds are typically risk-adjusted and will reduce your trading fee since they trade less frequently than other mutual funds or stocks that have to be traded at a particular time.
2. Invest In Mutual Funds
Mutual funds are simply collections of stocks that you can purchase for a low fee and then hold on to them for years or decades at a time until they appreciate in value, thus increasing your overall earnings over time.
3. Invest In ETFs
ETFs are an excellent option for the investor who is just starting out. They have low fees and usually trade at prices close to or even below their fair market values, which means that you will not see much of a difference in price between when you buy them and when they go on sale later on down the road.
4. Invest In Dividend Stocks
Dividend stocks are essentially companies that pay you a small share of their profits each quarter or year instead of using all the earnings for business operations and reinvestment into the company’s future growth.
5. Invest In An IPO (Initial Public Offering)
An IPO or initial public offering is another way to increase your income. This process occurs when a company decides that it will allow the general public to buy shares of its business for the first time, thus allowing them (you) to own an ownership position in that particular enterprise.
6. Invest In A High Yielding Savings Account
Savings accounts are virtually risk-free investments that provide you with an above-average interest rate. Putting your money in a higher-yielding account is a safe investment that is great for earning passive income over time.
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