How to double 1000 dollars

FYI: This How to Flip Money Article is Rather Long (and Epic) You may want to bookmark this page just sayin

If you’re serious about flipping your cash and stick with me, I’m going to show you the things that have actually worked for me over the past 25 years of experimentation as an entrepreneur.

That way you can double or triple your money with things that work, instead of losing your cash and needing to chalk it up as a life lesson.

Also, these strategies don’t take 30 years to implement.

You can read all the strategies at once or just scroll to the section that interests you, but this is what has actually worked for me over many experiments, much time, and going through many, many ways to flip money that did NOT work.

This article assumes a couple things, mainly that your desire is to take your money and add to it hard work, drive, and sweat equity in order to flip money faster than traditional investing.

The ideas below represent what to do when you’ve gotten to the point where you want to make something happen and are willing leverage your time and energy to make it go faster.

But these aren’t just ideas.

These are the best ways I’ve personally found to flip money and double $1,000 (or whatever amount you have).

Most of these ideas will work on some level with a

Most of these ideas will work on some level with any amount of money.

Depending on your knowledge, experience, and skills, they could be considered higher risk than traditional investing, but they also offer higher return on investment and the possibility of much faster returns!

Personally, I feel they’re less risky than traditional investing because you’re in the driver seat and you can make decisions, move quickly, work hard, and even gain experience and knowledge which will lead to increased gains.

Investing in yourself is less risky than throwing money at an idea because at the end of the day, you now have skills that can make a #profit. Click To Tweet

If you’re still reading, I know 1 thing about you for sure.

You’re an action taker!

You’re not afraid of going out and looking for an answer to solve a problem.

So let’s have a go and see which one of these make sense to you or which one can be implemented where you are right now in your current situation.

​#3) Diversify Your Portfolio and Investments

Instead of trying flip all your money at once, why not break it up into smaller parts?

For example, let’s suppose you have $1,000 you want to double or triple.

Why not make two $500 investments or four $250 investments and try to double or triple those?

That way you aren’t putting all your money into one investment.

If you have two things you try to flip for $500 dollars each and one goes bust- but the other works, then you have a winner.

Plus you still have $1,000 assuming you at least doubled your money on the winning venture.

Now you can do the one that worked again and theoretically you’ll double your money next time.

There are too many ways to quickly flip money for me to cover them all right now.

There are also lots of ways to lose your investment as well, so be careful.

The key is to take action on an idea you believe will work and do everything within your power to make it work (make sure you research your idea before starting to make sure it’s got a chance).

Said another way… Pray like it’s up to God and work like it’s up to you.

Pray like it's up to God… Work like it's up to you. #Success Click To Tweet

If you’d like to start small or are still building up your bankroll for investing, I suggest starting by taking time to just think.

Yes, think.

It’s a lost art form, but set aside a few hours, grab a pen and pad, and see what you can come up with.

Video

Best Way To Invest $1,000 According To 22 Experts

Investing Approach# Of Mentions% Recommended
Low fee index funds & mutual funds1672.72
Pick stocks of favorite companies/sectors313.16
Start an online business / side hustle313.16
Professional development & education29.09
Pay off debt29.09

Our group of seasoned investors overwhelmingly favored a long-term, diversified investing approach — rejecting individual stock picking and actively managed funds — in favor of low-fee index/mutual funds that track the broader stock market.

The data seems to back up our panel’s advice – a white paper published in June 2013 by Rick Ferri and Alex Benke compared all-index portfolios against comparable actively managed funds and found that the all-index fund portfolio outperformed the actively managed funds by 83.4% over a 16 year period (1997-2012).

This is an important investing lesson: if low-cost index funds can get beat professional stock pickers 83.4% of the time, what chance does an amateur have?

Most rookie investors dream of picking a winning stock that quickly turns their $1,000 into $10,000 or even $100,000, but our experts (and the data) tells us that this simply isn’t how investing works.

#3: Let Dividends Pay Your Monthly Bills

Risk level: Low

What if you could get your cellular provider to pay your cell phone bill every month? That would be pretty sweet, right?  Heck yeah, it would!

That’s exactly what could happen if you invested your $1,000 into a telecommunication stock such as Verizon or AT&T that both pay a salty dividend.

If you owned enough shares the dividend payments could cover your monthly bill so it’s like you’re getting your cell phone for free. Can you hear me now?

You could apply this to other monthly expenses such as your electricity bill, internet, gas, entertainment, and groceries.  Here’s some examples of companies you probably pay for their service that has a stock that pays a dividend.

ServiceCompanyDividend Yield
UtilitiesDuke Energy4%
CommunicationsAT&T5.68%
GroceriesKroger 1.44%
GasExxon Mobil4.01%
InternetComcast2.3%
Fast FoodMcDonald’s2.2%

If you need a refresher on dividends, check out this article on how to invest and make money on dividends.

One of the easiest platforms to build a custom dividend portfolio is M1 Finance.

Your Investment Style

Before you dump $1,000 (or any other sum) into an investment, spend time thinking about your investing style. For the most part, your investing style is determined by considering:

  • Timeline to invest
  • Whether you need easy access to your money
  • Appetite for risk
  • General interest in learning about investing

If you want a third party to do most of the work for you, then there’s a good chance a robo-advisor, like Betterment, is what you need.

After all, Betterment charges low fees, yet uses technology to make smart investment decisions for you. You can open a Betterment account, set it up to be funded regularly, and (mostly) leave it alone. If you’d rather spend your time and energy on your career or your hobbies, going this route is a good choice.

That said, some people prefer the do-it-yourself option. This can make sense if you want to learn more about investing by being hands-on so you become a better investor over time. It’s also a sensible path if you just want to understand the inner workings of common investment strategies. If you think you’d be better off as a DIY investor, then investing in ETFs, managing a BlockFi account, or investing with Fundrise might be better options.

Look for small players that can tap into big trends

Keith NoonanIf tasked with doubling a $1,000 investment, I’d narrow my search to small-cap companies that look poised to shape and benefit from potentially revolutionary technology trends. This is an admittedly risky approach, and often involves a healthy (or unhealthy, depending on your perspective) dose of speculation. It won’t be a great fit for every investor. However, it’s one I’ve had success with — and one that I plan to continue employing in the future. 

So, why small-cap tech stocks? For one, I think the technology sector stands out as the single best starting point for risk-tolerant investors seeking explosive returns. It’s also typically easier for small-cap companies to rapidly grow their sales and earnings on a relative basis because they’re starting from lower foundation levels. Business wins that would be footnotes for giant companies can power explosive stock gains for smaller players. 

To give myself a better chance of backing small-cap winners, I’d be looking at companies that have the potential to see a surge of business activity or improved performance outlooks thanks to the evolution of trends including the Internet of Things, 5G, and augmented reality. Each of these potentially revolutionary technology movements remains at early stages of development and will likely produce big winners. Many of these winners probably aren’t household names yet, and I think backing some younger, lesser-known players could be hugely rewarding — even though it means taking on more risk.

I’m still decades away from retirement and plan to remain invested in the market for many years to come, so the thought of some ambitious growth bets not panning out doesn’t worry me too much at this point. I’m also invested in safer, less speculative companies and believe in a balanced approach to portfolio building, even when prioritizing growth. 

If you’re investing $1,000 in stocks and aiming to double your investment in a year’s time, you should go in with the understanding that the stocks capable of delivering that kind of return usually come with an elevated level of risk. There are things you can do to improve your chances, such as focusing on smaller companies capable of capitalizing on powerful trends, but don’t be shocked if it doesn’t pan out in 12-months’ time. It’s possible to score huge wins with somewhat speculative small-cap tech stocks, but you’ll likely thank yourself for also backing some safer alternatives.

What If I Want To Turn My $1,000 Into $100,000?

If you came to this page trying to figure out how to turn your $1,000 into $100,000 overnight through some super secret multi-bagger stock pick, we’re sorry to tell you that all of our experts agree – there is no such magic bullet (and if there was, why are they wasting their time selling you the secret?).

However, that doesn’t mean our panelists didn’t have any advice for those of you who dream of turning your $1,000 into life changing wealth. 3 of our panelists suggested starting a low-capital online business as the best way to turn $1,000 into millions of dollars within a decade.

It’s definitely not an easy path and you could potentially lose your $1,000 – but as one of our panelists puts it:

“Even if the business fails, you’re likely to learn significantly more than $1,000 in business lessons.”

Frequently Asked Questions

1. How Can I Turn $1,000 Into $2,000?

If you want to double $1,000, one of the best options is to buy popular products and resell them for a profit. This is retail arbitrage, and $1,000 is enough starting capital for you to buy a decent amount of inventory that you can flip.

Keep in mind, it can still take a while to sell all of your inventory, and you might need several rounds of selling to double your initial $1k investment.

Extra Reading – How To Make $1,000 In 24 Hours.

2. How Can I Turn $1,000 Into $10,000?

In my opinion, the best way to turn $1,000 into $10,000 is to launch an online business. Selling your own products online and growing your own brand has an incredibly high earning ceiling, and $1k is also enough to launch your online store.

Again, like any method of flipping money, you probably need several rounds of buying inventory and selling it before you reach your $10,000 goal.

Extra Reading – How To Make $20,000 A Month.

3. What’s The Most Passive Option?

If you’re looking for passive side hustle for flipping $1k, I think buying and renting out assets is the best option. This route is mostly passive since you just have to deal with renter questions and handing off the product they’re renting when they come to pick it up.

Investing in income-generating real estate with companies like Fundrise is also a completely passive route you can take to make your money work for you.

How Creative People Can Earn 1000 Fast

Are you always creating something? Do you write, paint, take photographs, or play a musical instrument?

If you have a creative bent, you can find yourself making money while doing what you enjoy most.

Here are some ways to let your creativity take center stage while you learn how to make 1000 dollars fast.

18. Write a Book

Not everyone can write well, but if you can, it might be worth it to give e-publishing a try.

Making money with eBooks depends on developing a niche, packaging your content well, and choosing the right platform.

With eBook royalties being around 2/3 of the list price for most books, you could make $6.50-7.00 per book if you charge $9.99.

If you sell just under 150 copies, you’ll make $1,000.

Amazon is a great place to do this since they offer Kindle Direct Publishing (KDP). You can bypass traditional publishers (and the process of getting rejected by 99% of them).

KDP allows you to put out the content you want, when you want, for the audience that you know is waiting.

If you’re going the KDP route, I recommend taking a look at KDP Rocket. They help you locate keywords that people are looking for.

This tool helps you to know ahead of time what words you can do to sell more books. It provides modern authors with information that was inaccessible just a few years ago.

try KDP to unleash the book you’ve always wanted to write

19. Play Music in a Busy Area

You’ve seen street musicians playing for crowds. Most of them set up a bucket, hat, or guitar case for tips. And many people will throw a buck or two, or at least a handful of change, into the container!

Could you put this on your “how to make 1000 dollars fast” list? Maybe!

A very limited study of 10 musical sessions in Boston found that the musicians in question made an average of $42.55 per hour, but this varied greatly.

The most lucrative time in this particular case was on a Friday evening, where the duo made three times their average.

So just give it a try!

20. Take Stock Photos

Have you ever read a blog post and wondered where the author found the image?

Often, you’ll see that images like this are stock photos, which are sold through websites such as Getty Images, Shutterstock, and Adobe Stock. People purchase the rights to use the photos in their own work.

If you’re a decent photographer, you can take stock images and sell them to these types of sites.

The site will take a fee ranging from 50 percent to 85 percent, and each photo will usually be sold for just a buck or two.

Still, if you’re taking photos anyway, you could conceivably rack up $1,000, and it might be faster than you think!

Invest In Small Businesses

“Mainvest is a regulation crowdfunding platform that allows anyone to invest in small businesses with as little as $100,” said Lauren Murdock of Mainvest. “With target returns between 10-25% and quarterly repayments, investing on Mainvest is a great way to make passive income while supporting small businesses in your community. Since our inception, we’ve helped over 400 small businesses across the U.S. raise $12MM in capital. When you invest in a business on Mainvest, you are buying a percentage of their revenue, detailed in the offering page. Because of this unique revenue sharing model, investors get quarterly repayments as long as the business they invested in is open and making revenue. This is beneficial to both investor and business as businesses don’t give up any ownership and investors do not have to rely on profitable ventures for repayment.”

How to Make 1000 a Day All Week

Now let’s get into some more sustainable strategies. You may not earn $1000 in a day with some of these, but you can make an easy extra $1000 a week on a sustainable basis.

If you’re already working a nine-to-five, you might decide that picking up some extra hours with some odd jobs is an easy and quick way to make $1,000.

Below are a few ideas to get you started on that venture.

7. Ask Your Boss for Overtime

If you’re in a position that pays overtime, you might have a great opportunity in front of you. Asking for overtime can boost your earnings anywhere from 50% to 200%.

Take advantage of that by asking your boss if you can start logging a few more hours.

Be sure to get plenty of rest when you aren’t working. Do things you enjoy, go outside, and keep yourself from feeling worn down.

Sometimes the only way forward is to hustle through!

8. Deliver Pizzas

Another way to earn some extra cash fast is to deliver pizzas.

It takes no experience, just a reliable vehicle and some familiarity with the delivery area.

If people tip you a couple of bucks per pizza, that adds up fast; you could likely make a thousand dollars within a month.

Obviously, pizza delivery isn’t the only type of job with tips that you could pick up in the evenings or on weekends.

If you have serving or bartending experience, moonlighting at a local restaurant or bar should go on your “how to make 1000 dollars fast” list of ideas.

9. Clean Houses

If you like to clean your own house and you’re good at it, you could put that skill to work for you by offering up your housekeeping skills to others.

Depending on the size and condition of the client’s home in question, you could charge between $100 and $250.

Cleaning four large homes per week will allow you to earn around $1,000 per week.

10. Mow Lawns

If cleaning indoors isn’t your thing, how about mowing grass and landscaping on the weekends?

Many people (i.e. potential clients) have neither the time nor the equipment required to mow the lawn, treat the grass for pests, trim trees and bushes, or put in new plants and flowers.

If you have a green thumb and like spending time outdoors (and if you already have the equipment), you could end up grossing $25 to $50 per hour, which can help you achieve your goal of $1,000 within a month.

11. Rack Up $5 at a Time

When you’re thinking about how to make 1000 dollars fast, you might only focus on ways to make $100 or more in one fell swoop.

It’s also good to consider how you can make very small amounts of money over and over again.

For example, you can earn $5 at a time on Fiverr doing anything from designing a logo to writing up Twitter posts to drawing a sketch.

You’re not limited to earning just five bucks at a time, though.

Buyers have the option of upgrading their purchases, allowing you to make triple or quadruple your base fee from some or all of your transactions.

Even if you did make $5 a pop, you’d just need to sell 200 transactions to make a thousand dollars. If it’s something that takes you only five or ten minutes, you could rack up that amount quickly.

2. Invest in an SP 500 index fund

An index fund based on the Standard & Poor’s 500 index is one of the more attractive ways to double your money. While investing in a stock fund is riskier than a bank CD or bonds, it’s less risky than investing in a few individual stocks. Plus, the S&P 500 is composed of about 500 of America’s largest and most profitable firms, so it’s a strong option for long-term investing.

The S&P 500 also has an attractive long-term return, averaging about 10 percent annually over long periods. That means that, on average, you’ll be able to double your money in just over seven years. That said, the return in any single year is likely to be much different – higher or lower – than the average. And the S&P 500 can go through long losing streaks too. For example, the index had a negative return during the 2000s. The S&P 500 made up for it in the 2010s, returning 252 percent – more than tripling.

It’s easy to buy an S&P 500 index fund and you don’t need a lot of expertise to invest this way.

Start a Side Hustle

There are plenty of side hustles to pursue — from baking dog treats to selling printables, but Bryan Clayton, the CEO of GreenPal, is partial to lawnmowing, which is something you could potentially start doing tomorrow.

“The best way to turn $1000 into $10,000 is to start your own lawnmowing business side hustle,” Clayton said. “You can get into the lawnmowing business for less than $500 and you can even spend $1000 if you want to buy a little bit better equipment. You can make $10,000 in your first month if you hustle. We have vendors on the GreenPal platform making $75 an hour now with the labor shortage that our economy is experiencing. Simply put, the lawnmowing business is the best side hustle there is.”

Life Insurance Offer:

2. Invest in a money-making course

Investing in yourself is one of the best possible investments you can make. While you might not be able to pinpoint an actualized return on investment, there’s no money that’s better spent. Invest in yourself. Invest in your education. Learn. Adapt. Grow. Discover what you’re passionate about.

There are loads of money-making courses on the internet. The hard part is choosing the right one. From ebooks to social media marketing, search engine optimization and beyond, the possibilities are endless. While many money-making gurus might pop up on social media, not all courses are created alike. Spend time doing your due diligence and research to choose the one that’s right for you.

Related: Mark Cuban’s 3 ‘Smart Money Moves Everyone Should Make’

How can I make money if im 23 and smart?

Here are 9 smart money moves to make in your twenties:

  1. Compound Interest is Like Financial Magic – Invest & Watch Your Show. …
  2. Don’t Get Carried Away – Wanting It All Right Now Comes At a Price. …
  3. Pay Off Your Debts, Resist Thinking That Debt is Normal. …
  4. Choose a Partner & Friends Who Share Your Money Values.

What do rich people invest in?

Ultra-wealthy individuals invest in such assets as private and commercial real estate, land, gold, and even artwork. Real estate continues to be a popular asset class in their portfolios to balance out the volatility of stocks.

How can I make money if im 19 and smart? 6 smart money moves to make in your 20s that can help you save money

  1. 6 money moves to make in your 20s. Create a budget and stick to it. …
  2. Create a budget and stick to it. …
  3. Build a good credit score. …
  4. Set up an emergency fund. …
  5. Start saving for retirement. …
  6. Pay off debt. …
  7. Develop good money habits.

Is a 401k liquid net worth? Is a 401(k) considered liquid? No, retirement accounts like 401(k)s and IRAs are generally not considered liquid. If you’re under the age of 59.5, you’re likely to pay penalties if you withdraw money from your retirement accounts. At any age, you’ll owe income tax on the funds withdrawn (Roth IRAs are the exception).

Investing $1,000 The Options Are Endless

There are so many ways to invest 1,000 dollars and double it, triple it, or 10X it! Hopefully this post gave you some new ideas to try you hadn’t thought of before.

Just remember the prerequisites for getting a great return on your investment – time, hard work, and skill. There are no easy get-rich-quick schemes on the path to financial freedom.

What are some unique ways you’ve invested $1,000 to double your money? Let me know in the comments!

Website | + posts Andrew Herrig is the founder of Wealthy Nickel, where he writes about personal finance, side hustles, and entrepreneurship. As an avid real estate investor and owner of multiple businesses, he has a passion for helping others build wealth and shares his own family’s journey on his blog. Andrew’s expert advice has been featured on CNBC, Entrepreneur, Fox News, MSN, and more.

Bottom line

If you’re looking to double your money in any reasonable time frame, you’ll need to take some risk. You simply won’t be able to earn enough from safe bank products to reach that goal. Above all, it’s important to remember that you don’t have to make the riskiest trades – ones that look more like gambling than investing – to build your fortune. You do have high-return options that can limit (but not eliminate) your risk, such as a house, S&P 500 funds and 401(k) matching.

Learn more:

Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.

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