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If you have $10,000 right now, what are some of the best things you can do to turn it into $100,000? The reality is that our money has the potential to generate significant returns if we understand how to use it strategically. Unfortunately, many individuals lack the necessary knowledge to effectively multiply their money.
You're in luck, because in this post I've described how to double your $10,000. However, keep in mind that for this to work, you need patience and the ability to delay gratification. Once you embrace these qualities, growing your wealth becomes a realistic possibility.
You should stick with this post because the methods I share here are legit, unlike some false promises that claim to double or multiply your money quickly.
So let's dive in without wasting any time!
How to turn $10,000 into $100,000
If you want to increase your money, there are two ways to do it: the fast way, which involves more risk, and the slow way, which is safer.To start a businessis an example of the fast way, while investing in the stock market is a slower but safer way.
But from my experience starting a business, I have learned that it is not easy at all. You have to work consistently for hours to achieve that 'quick success'; otherwise it will take longer.
On the other hand, if you put in $10,000scholarshipand if you add $200 each month (additional investment contributions), it would take 15 years to reach $102,000, assuming an annual stock market return of 8%. So you can see that each path has its pros and cons.
I can't choose which path to follow, you must decide based on factors such as your financial or investment goals, risk tolerance and time horizon.
Let's take a look at the best ways to turn your 10k into 100k:
1. Invest in real estate
Are you aware of that?propertyinvesting usually yields an annual average return of 10.3 percent?Real estate investmentis a solid method to grow your $10,000 to $100,000.
According to 45% of Americans, it is a popular way to build wealth CNBC, who agree that real estate is the best way to build wealth.
Now you may be wondering how this is feasible (investing $10,000 in real estate), especially considering that real estate investing can be considered quite expensive.
But the good news is that you can use crowdfunding platforms to start investing in real estate. Real estate crowdfunding platforms work by raising money from various investors and using these funds to purchase properties.
Basically, when you invest your $10,000, you essentially own shares in these properties. Depending on the platform, your money can be used to purchase real estate such as warehouses, retail spaces, hotels, townhouses, condominiums, single-family homes, etc. This is a great way to earn passive income.
What are the best real estate crowdfunding platforms?
Below are the best crowdfunding platforms you can use to invest your 10,000 euros:
- Fundraiser:You can start investing from as little as €10 and your money will be diversified across eREITS and eFunds. With Fundrise,you are guaranteed a return of 8% per year on your investment.
- Arrived: This crowdfunding platform allows you to invest in rental properties with a minimum of $100. Because Arrival invests in rental properties,you can expect quarterly dividends from rental income.
- Controverseel: With Streitwise you can start investing in commercial real estate with a minimum of $3,505, which gives you 500 shares. It's a good crowdfunding app to use if you want dividend income.
- the earth: Another crowdfunding platform to invest your €10,000 is Tellus. I haven't fully delved into how Tellus works yet, but I hear people say that the app pays out a daily return after investment.
2. Invest in cryptocurrency
Cryptocurrency remains a type of investment that many people find difficult to understand. So I understand it might be a challenge to convince you to invest your $10,000 in it. Nevertheless, investing in cryptocurrencies is another way you can turn your 10k into 100k.
Moreover, cryptocurrency is very unstable. Let's take bitcoin;according to SkrilIn 2021, Bitcoin was valued between $28,383 and $65,000. This caused it to record a daily volatility of 4% and an annual volatility of 81%.
A time series chart of Bitcoin volatility from 2010 to 2023 (Bron:Buy Bitcoin Worldwide).
If you've heard that the stock market is volatile, crypto is at a whole new level. So while investing in cryptocurrency can turn your $10,000 into $100,000, you need to be someone who can handle risk.
Here are the best platforms you can use to invest in cryptocurrency:
Through these apps you can invest in all types of cryptocurrencies, including Bitcoin, Dogecoin, Chainlink, Ethereum, TRON and Tether.
3. Invest in the stock market
The stock market is another way to increase your $10,000 tenfold. You can invest in dividend stocks, growth stocks, ETFs, bonds and index funds. Investing in the stock market allows you to grow your money on autopilot.
Let's take a look at how each type of stock investment works so you can choose the one that's best for you!
- Dividend stocks: These are shares of companies that pay their shareholders or investors based on the profits the company makes. That is dividendpaidmonthly, quarterly or semi-annually depending on the company. Examples of dividend-paying companies include Walmart (WMT), Home Depot (HD), Johnson & Johnson (JNJ), and Chevron Corporation (CVX).
- ETF's: Exchange traded funds act asinvestment associations. The only difference is that ETFs can be traded like stocks. Investing in ETFs diversifies your portfolio by investing in broad asset classes. ETFs offer the advantage of being both tax efficient and cheap.
- Index funds: With index funds, you invest in a huge collection of stocks designed to replicate the performance of an already existing stock market index, such as the S&P 500.If you want to play it safe with your $10,000 and hope for a solid 10% return every year, your best bet is index funds.. Some of the best index funds include the Schwab S&P 500, Vanguard S&P 500 index funds and the Fidelity ZERO Large Cap index.
How to start investing in the stock market
The best way, in my opinion, is to use an online brokerage app. Here are the best online brokerage apps available:
4. Start an e-commerce business
Another way to turn your 10k into 100k is to start oneecommerce business. E-commerce sales are expected to reach $8.1 trillion by 2026. This means that you can easily turn your 10,000 into 100,000, provided you know the right strategies.
To start your ecommerce business, you need to find a product that is ready for the market. It can be a digital or physical product. If you settle for physical products, you must decide for yourself how you want to receive the products. Whether you want to use white labeling, retail arbitrage or print-on-demand.
Then choose a platform to create your store. For example Printify andPrintedworks on the print-on-demand model and takes care of printing and shipping when you sell something. FulfillmentdoorAmazon works the same way. If you sell vintage items, paper products, handmade jewelry, and more, Etsy is also a good choice.
Although it is not an easy way to start an e-commerce business turn your money overWith the right approach you can achieve a breakthrough.
5. Open a high-interest savings account
If you see serious interest on your $10,000, consider putting it in a high-interest savings account. It may not be the absolute best move for your money, but it's better than leaving it in a regular savings account with virtually no interest at less than 1%.
Some of the best places to set up a high-interest savings account include:Instantly popular,UFB direct,Upgrade, InCIT bank.
By creating your account with one of these platforms, you can expect an APY of around 5 to 5.30%.
6. Invest in small businesses
If you are still looking for a way to turn your 10,000 into 100,000, you can invest in startups and small businesses. This is one of the legitimate ways to earn passive income.
You can get started with Mainvest. This platform allows you to invest in small to medium-sized businesses with as little as $100. You allthe need is to have a US bank accountand are 18 years or older and you can invest in companies such as:
- Rods
- Breweries
- Bakeries
- Cafés
- Restaurants
- Grocery stores
- Ice cream shops
- Foodtrucks mv.
Although there is some risk involved, there is a significant chance that you will get a positive return on your money, with an average return of 10%-25%.
Now you know that you don't have to be an accredited investor to invest in business, thank you Capital investing.
7. Try peer-to-peer lending
I am a platformThrive,CreditClub,InKivaThis allows you to lend your money to people to be paid back with interest within a certain time frame. This is another way you can turn your $10,000 into $100,000.
Lending your hard-earned money to people is risky, but it works. However, you need to understand that it will take some time to reach $100,000.
If you want things to move faster, consider lending money to borrowers with bad credit. You'll get a higher interest rate, but be prepared: the risk factor also increases.
In addition to using peer-to-peer platforms, you can lend money to people by participating in Reddit communities like r/loans.
8. Start a website blog
A website blog is a business with very little overhead but can make you a lot of money. If you're looking for a way to turn your 10k into 100k, I'd say give blogging a try.
I started my blog with less than $150 in 2022 and it is now generating some money on autopilot. Although I haven't made 100k yet, I will in the future!
The whole blogging process excites me because I learned many skills including website building, writing, SEO, email marketing, networking, and many other skills that are high-paying skills in themselves. So it is a good way to also invest in yourself.
To kick-start your blogging journey, you'll need a domain name, hosting, and a WordPress theme, which shouldn't cost more than $150 in total. Like any business, starting a blog is a risk you take, but if you do your best and stay patient, you will make more than $100,000.
9. Start en flipping business
You can also start a flipping business to turn your 10,000 into 100,000. Thrift markets are the best places to find things like clothing that can be sold for a profit. Or if you have used (used) clothes, you can sell them on various marketplaces.
Here are some marketplaces and the items you can sell there:
- Poshmark: This marketplace is intended for the sale of branded clothing and modern clothing. The majority of users are millennials, so your clothes should resonate with them.
- Sideline change: If you have used sports equipment and equipment,Sideline changeis the right place to sell them.
- Depop: Sell on this marketplace if you have high-quality fashion, vintage or streetwear clothing.
Other flipping companies available
Flipping websites and domains is also part of the flipping business.
Turn home page
To flip the website, you need to build a website to the level where it generates traffic and revenue. You can then flip it for decent money on sites like Empire FlippersIn Sell.
Depending on the niche and income of your website, you can earn approximately 25 to 45 times the monthly income. For example, if the blog makes $500 per month, it can be sold for about $12,500 to $22,500.
Flip domain
You can buy domain names, hold them and sell them for a profit. The only downside to switching domains is that there is no guarantee that someone will buy the domain you purchase.
But if you keep an eye on trends and choose short, catchy domain names, there's potential to sell them for thousands, if not millions, later. Examples of domain names that have sold for millions of dollars include:
- Internet.com – $18 million.
- VacationRentals.com – $35 million.
- Insurance.com – $35.6 million.
- Voice.com – $30 million.
- Cars.com – $872 million.
Last words
Growing your money is not a walk in the park; it takes dedication, patience and a willingness to delay gratification. Now you know how to turn your 10k into 100k, but it takes more than just this information to make it happen.
You can use any of the ways to increase your $10,000 tenfold, but knowing how quickly you want results and your comfort with risk can help you find the path that suits you best!
I hope this post has been helpful and I'm glad you're taking action quickly. Cheers!
