22 Ways On How To Double 10k Quickly [Ultimate Guide]

Are you wondering how to double 10k quickly? Here are 20 ways to double your 10K, but we also look at the risk portion of the question. The faster you want returns, the more risk you will encounter. 

Reaching the point of having $10,000 on hand might mean it’s time to begin investing. However, if you’ve not invested before, you begin to think, what’s the best way to invest $10,000?

As you read more about how to double 10k quickly, you will be surprised to know how many options you have. Which one has the highest returns and manageable risk?

22 Ways On How To Double 10k Quickly

When talking about doubling your money, it’s essential to know and clarify some assumptions. At the moment, promotions include get-rich-quick schemes, pyramiding schemes, and too-good-to-be-true offers.

To be independently wealthy requires hard work and patience. And if someone offers you to double your 10K overnight, it’s best to turn the other way and avoid getting scammed.

We have compiled the finest among the other methods of increasing your money. Here are 22 ways to double your $10,000 quickly.

1. Start A Blog

Starting a blog lets you earn money up to $100,000, even with a capital amount of less than $10,000 to start. This kind of investment requires your attention, time, and effort more than the others. 

Since you have to dedicate more time to growing your audience and creating content than to other investments, you may have to learn all sorts of tricks, utilizing tools and resources available to assist you at the beginning.

Nowadays, blogs and websites are among the best methods of earning money. By displaying ads, affiliate marketing, and online courses, you can double your earnings.

These monetization methods can be the greatest investment you will ever make. It does not require any expertise in writing to get started. Moreover, starting an online business can be done by having passion and determination.

As you begin your career in blogging and you start gaining knowledge, you will become more structured and be capable of making more money.

If you want to start your own blog, Bluehost is a hosting platform that can help you build your website. I’ve used Bluehost for years growing this blog, and I’m satisfied with their services and customer care.

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2. Invest In Real Estate

Real estate investments can also double your 10k; that’s because they are a passive approach to increasing your savings double or even triple. 

Conventionally, investing in real estate isn’t applicable with only just $10,000 because this amount is not nearly enough to buy a rental property. However, it is possible with real estates crowdfunding platforms such as:

• Fundrise – open an account with an initial investment of $10. Check our full Fundrise review for more details of the platform.
• Groundfloor – start investing for as low as $10. Read our full Groundfloor review here.
• EstateGuru – a European crowdfunding platform with a minimum investment of €50 per project. Use this link to get 0.5% cashback on any investments you make within the first 3 months. Here’s our full EstateGuru review for more information. 
• Reinvest24 – a European crowdfunding site where you can receive income from growing property valuations and renting out properties. Learn more with our Reinvest24 review here.

With these crowdfunding platforms, buying a share in income-generating real estate properties without being an accredited investor is effortless.

3. Peer-To-Peer Lending

Peer-to-Peer lending (P2P) is a great way to double your 10k. P2P lending is lending money to others and getting interest in return, and it enables a person to get loans directly from other individuals.

Most of the P2P lending platforms have an average annual return of 10%. Choose the platform that is widely known, and you are comfortable with. Do your due diligence as there are platforms that offer a buyback guarantee.

Here are some of the P2P platforms that I use myself and recommend:

• Mintos – sign-up now using this link and get a bonus of 0.5% of your invested amount in the first 90 days. Read our full Mintos review and Mintos loan originators that you can invest in.
• Fundrise – if you’re located in the U.S., Fundrise is the place to start. You only need $10 to set up your portfolio. Fundrise lets you invest in private commercial and residential properties to build up your passive income portfolio. Check the full Fundrise review here.

4. Invest In Index Funds

Stock market investments can double your 10k slowly but surely in a few years. That is by taking advantage of index funds where you can optimize your returns while also minimizing risk.

Index funds are a group of stocks that follows an entire index like the S&P 500. Index funds have performed well, returning around 7% annually to investors, and it does not require you to have a financial advisor to begin.

Investing with index funds will get you benefits such as a well-diversified portfolio with affordable fees. 

You can use robo-advisors like:

• M1 Finance – is a stock and ETF brokerage that helps you invest in stocks for as low as $100. With no trading or brokerage fees. Check out our M1 Finance review and learn more about the platform’s services.
• Acorns – is a micro-investing app that is suitable for new investors. Read our complete Acorns review here.
• Webull – is an online broker with no minimum requirement to open an account and has no trading fees. Here’s our full Webull review for more details.

They are easy-to-use investing platforms that let you trade stocks and invest your money with relief.

5. Invest In Mutual Funds

Investing in mutual funds is a great way to earn money from investing and building wealth. Mutual funds can be considered a group of stocks and investments that can simply be bought or sold through the stock market.

And if you compare mutual funds to index funds or ETFs, mutual funds may have higher fees because they don’t replicate any specific index. At the same time, the fees can be nullified by the stronger performance of the fund.

Investing in mutual funds is a good way to expand your initial investment without significant risk. Also, you can check the activities of the fund before you make any investment. By doing this, it can help you to vet the fund managers to see if they regularly beat the market or not.

Like index funds, you can use different investing platforms like Acorns, M1 Finance, or Stash to get started with investments.

6. Invest In ETFs

ETFs or exchange-traded funds are just like mutual funds but generally have lower fees. That’s because ETFs are inactive managed portfolios. They have lower fees among the other options making them the best investments to make passive income.

With the multiplicity of an ETF, you don’t have to spend hours doing research or expanding your understanding about the companies to invest in and if they have low risk.

If you are into an investment that demands less and an easy way to double your money, then an ETF is a great option to do it.

7. Invest In Bonds

Investing in bonds may not be the fastest scheme to double your money from $10,000 to $20,000, but it’s one of the safest ways to invest your cash.

There are various types of bonds you can invest in and take advantage of their benefits and drawbacks. One example is municipal bonds, which are one of the lowest-risk investments you can make. They can hardly make you lose money, but the returns are inferior.

Interest rates on bonds and bond funds are low, but that depends on the market’s current standing. Similar to a savings account, it’s hard to lose net with bonds, so most investors will place some of their money on them.

8. Invest In Dividend Stocks

Another investment that can help you double your money is via dividend stocks. With this method, you can use compound interest and generate more money. 

To get started, you may use a Robo-advisor like Acorns to round up the spare change you spend and invest it automatically for you. 

Dividends are very simple. When a company makes a profit, it can reinvest its earnings or distribute them to investors as a dividend.

Investing in dividend stocks also means that you’re investing in more mature companies in lower growth stages that don’t require the capital to keep growing. As the economy grows, you may double your money over time. 

9. Cryptocurrency

Cryptocurrency has been creating millionaires out of the day-to-day investors. Cryptocurrency is gathering popularity and can become a better part of society.

Cryptocurrency is still new and maybe a passing trend. How can you buy Dogecoin at $0.002 per coin? If you sold Dogecoin when it hit $0.70, you would have made $0.698 per coin. If you invested $1,000, you have made $350,000.

The issue with cryptocurrencies is the inherent risk involved. Dogecoin might go bankrupt, and you lose all your money. There are plenty of lessons learned from investing in cryptocurrencies, and the problems within cryptocurrency aren’t resolved. 

It’s really up to you to decide if investing in cryptocurrencies is something you want to do. The potential rewards are significant, but the risk is high.

10. Buying Initial Public Offerings

Initial public offerings or IPOs refer to offering shares of a private corporation to the public in a new stock issuance. In short, companies that are new to the stock exchange. 

These companies have recently gone public and need cash to keep up with their growth. The share price of these companies is exceedingly volatile, and with the right company, this may lead to important growth.

One example is Shopify, which went public for $38.50 per share, where years later, the share price was increased to $165.90 per share. With that kind of investment, you have to good chance to double your money.

If you want to double your 10k quickly and don’t mind taking some risks, a Special Purpose Acquisition Company or SPAC may be something for you. You invest in a blank cheque company that will purchase another company within a couple of months. Learning how to invest in a SPAC can go a long way when you want to double your money. 

11. Real Estate Investment Trusts

Real Estate Investment Trusts or REITs is an excellent way to double your 10k quickly without investing thousands of dollars as a property owner. In REITs, investors can earn dividends from real estate investments without managing the property themselves.

Most REITs are publicly traded, meaning that investors can buy and sell them like stocks, and that’s why they are considered very liquid. 

If you are thinking of working in the real estate industry, you can read our best-paying jobs in REITs.

12. Advertise Your Services

Earning money by advertising your services is one way to turn your 10k into 20k. Whenever you advertise your services, you have the opportunity to gain more customers. The more customers you will have, the faster you earn more cash.

For instance, as a freelance writer who earns $15 an hour, you can earn up to $28,000 yearly. It may seem a small amount, but you can make more than $50k annually as you gain more projects or clients.

Take a tiny portion of your earned money and use it to advertise more of your services. You will be glad to gain more new clients, earn extra income, and grow your money even more.

13. Start An Online Business

I know some of us think that starting a business is a hassle. But honestly, starting a business gives you more opportunity in turning your $10,000 to $20,000, or up to 6 figures. 

Many business people would say that nobody gets rich from work-earned income alone, while with a business, you don’t just earn money—you make it. 

You can start an online business with less than $10,000, make money blogging, or make money through YouTube. Both actually can work under $500 to start.

If you are thinking of starting a business without quitting your day job, this may also be an effective strategy to double your money.

14. Side Hustle

With the endless side hustles available in the market, you can make your $10,000 into $20,000 in a few months, which is considered fast and legal if you watch out for these illegal side hustles. 

When you say side hustle, we are not referring to the usual gigs like food delivery or using apps like Instacart. It will take you years to double your earnings, not to mention the many hours you need to make ends meet.

With your $10,000, you can start a more creative side hustle. For example, you can turn your storage room or attic into usable space and rent it out on Airbnb for people looking to save money on their vacation.

Aside from that, you can use the $10,000 to reserve parking in commercial areas where you can also rent it out and earn money from it. There are many ways you can double the money with a side hustle just to be as creative as you can be to start.

15. Flip Stuff For Money

One of the modern and more entrepreneurial ways to double money fast is flipping stuff for a profit. It is also called retail arbitrage. It’s a business model that gained a lot of purchases over the last few, thanks to the development of eCommerce.

The objective of retail arbitrage is to buy popular products that have the tendency to be sold quickly online at a discounted price so that you can resell them.

Here are some examples of these products:

• Electronics
• Apparel
• Toys
• Video games
• Books
• Cosmetics

Retail arbitrage sellers frequently purchase goods from discount stores such as Walmart and Kohl’s. And thus, sellers often sell their merchandise via platforms like Amazon FBA, eBay, or Facebook marketplaces.

Other sites where you can sell your retail arbitrage goods: 

• Mercari
• Garage Sales
• Depop
• Poshmark

Learning the strings with retail arbitrage takes time, and it also requires many rounds of inventory to double your 10k.

16. Swing Trading

Swing trading requires skills to learn and understand how it works, but this is one of the profitable ways when done right. With swing trading, you can double your money from a couple of days to a year anywhere. 

The job of a swing trader is to purchase stocks that have currently taken a strike and wait for them to recover. For instance, Apple is currently trading at $200 per share. The company may receive bad news, which caused the price to drop to $160 per share.

The impact of the bad news is hopefully only brief, and Apple will not go bankrupt anytime soon. With that, your opportunity to best purchase Apple stock at a premium discount is now.

Just like any kind of trading, swing trading can result in substantial losses. That’s because swing traders hold down their spot longer than day traders. 

That often happens since short-term trades fall over several days. Swing trades run the risk of the price of a stock going down over the weekend or overnight and not being able to sell. Furthermore, swing traders are more susceptible to market buoyancy and thus suffer huge losses.

17. Retirement Investment Accounts

Retirement investment accounts such as Roth IRA or 401(k) are another way to flourish your wealth while minimizing your tax bill. Accounts like Roth IRA lets your pre-tax income increase with the market.

While a 401(k) account has more tax benefits, apart from the cash you invest in pre-tax income, you can also grow your money tax-free. But that’s not all. Many employers will give you an employer match and match the amount you put into your 401(k).

Maximizing retirement accounts is a necessary way to invest your money in the market without getting a large tax bill. Besides, retirement accounts give you the freedom to invest in many of the above investment types to double your money. You can also buy and sell your investments if you want.

18. Use A High Yield Savings Account

Another guaranteed way of doubling your $10,000 is to use a high yield savings account. Regardless of how long it takes to turn your $10,000 into $20,000, you will reach it with this method.

If set against the other risky investments like cryptocurrency, it’s more likely to take time for your money to grow. That may be the case, but more investors seeking little risk will often commit a small quantity of their portfolio to a high yield savings account.

You may want to start with CIT Bank, people recommend their bank account as it pays more than 5 times the national average interest rate. Its interest rates rise, optimizing this bank account is an excellent system to make cash even while sleeping.

19. Certificate Of Deposit

A certificate of deposit or CD is a savings account that holds a fixed amount within a specified period of time like 6 months, 1 year, or 5 years in exchange, the issuing bank pays you interest.

A CD is very similar to a money market account and can be opened at most banks, and it is considered a secure investment. 

Comparing CD to other investments like index funds won’t produce as much income. However, they are incredibly safe.

20. Refinance High-Interest Debt

Refinancing your high-interest debt with 10k can impact your payments. Interest rates are much lower now, and refinancing will result in lower costs.

Refinancing your house could even make better results, such as cashing out due to increased property value. When the value of your home increases by more than $10,000 you can expect to have enough equity in the home and can request a cash-out refinance of your mortgage in a month or less to double your money.

21. Resell Your Stuff On Amazon Or eBay

Reselling products on Amazon or eBay is another method of increasing your savings fast. You may shop on clearance items at your local retailers and find valuable goods to resell online. 

After you purchase the items, take a couple of pictures, upload them on Amazon or eBay, add a couple of descriptions to describe the usage of the items, and sell it for profit.

Once your items are sold, Amazon will take a portion of your profits. That fee is a charge for using their platform to sell things. Suppose that you made an $8 profit per item, then you can make $80 when you sell 10 of them.

Unfortunately, some items may not be sold, but Amazon has the audience and expertise to sell products fast. Many people have sold on Amazon before and some sellers are still amazed at how products are quickly sold.

22. Coaching Programs

When you talk about investments, the first thing that comes to mind is allocating money to assets with the hopeful expectation of a high return on the investment.

However, if you want to get the best out of your investment, you will improve your knowledge and skills to live better or earn more money. 

The best way to do this is to invest in coaching programs. These are online businesses where you can learn about subjects like investments, baking, starting a freelance career, and more.

Eager to double your money through investment, then you can start signing up on an investment coaching program with someone who is an expert in this field.

By doing so, you’re not only gaining knowledge but also saving time, effort, and money.

How Soon Can You Double Your Money? Look To The Rule Of 72

Turning your money into twice the amount is not as fast as blinking your eyes. But how soon can you double your money? 

We don’t have any timeline that we can share from our side, but we can provide you a trick that most successful people use, where you can quickly estimate when you can have double earnings. It is called the Rule of 72.

What Is the Rule of 72?

The Rule of 72 estimates how long it takes for your money to double and provides a specified rate of return. Many of these ways involve investing, so the rule of 72 is helpful for determining when your money will double.

The formula used is years to double = 72/rate of return. The principle is simple. Divide 72 by the annual rate of return to figure out how long it will take to double your money. 

For example, if the average stock market return is 7%, it takes 10.2 years to double your money (72 divided by 7).

The Rule of 72 does not provide actual results, and instead, an estimation on when you can double your money. The computation will only provide an approximate number and keep in mind that the return will vary significantly from year to year.

In The End – How To Double 10k Quickly

Making money fast comes with commensurate risk. To avoid and mitigate this risk, you will have to do your research, contemplate, and compare, and you may need to consult with financial professionals if investing is really the way to go.

Many want to double their wealth, yet only a few take the risk and face the challenges. The available resources and plenty of tools have made it easier to find real ways to increase money. But don’t be complacent; you still need to understand the risks involved.

Success may not happen overnight, but it will happen faster than you think if you devote yourself and stay motivated to achieving your goals.

As you climb your way to financial independence by doubling your money, remember to use the Rule of 72. Divide and conquer is not limited to a battle strategy, and it can also be applied to growing your finances.

Related Reads:

• How To Make 500k a Year – 15 Best Jobs To Make Good Money
• 31 Best & Legit Jobs That Pay $40 an Hour Without a Degree