3 Proven Ways To Double Your Money Business
If you consistently earn 100% of the match, that $ 2,100 per year will rise to about $ 238,000 after 30 years. When you also include your own contributions, you would have over $ 475,000 in total with all other factors remaining the same.
2. Invest in S&P 500 ETFs
Some investors like to pick stocks and research different companies, while others prefer to take a hands-off approach to investing. If you are in the second category, index ETFs can be a fantastic option.
Index ETFs are collections of stocks bundled together in a single investment, and they track particular stock indexes like the S&P 500. If you were to invest in an S&P 500 ETF, you would invest in all of the stocks in the S&P 500 itself.
With enough time, you can easily double your money with this type of investment. Historically, the S&P 500 has achieved an average rate of return of around 10% per year since its inception. This means that while the index has experienced significant volatility over the years, record highs offset declines, averaging returns of around 10% per year.
So if you invested $ 10,000 today, how long would it take to double your money? If you don’t make any additional contributions and get an average annual return of 10%, you’ll save $ 20,000 in about 8 years.