InvestmentTotal.com Response: It would be easy for you to invest since you saved that much money. You are trained to save not to invest. But the good news is, investing will be very easy for those who know how to save.
You need to identify which investment vehicle is suited for your risk appetite. Stocks and mutual funds equity are high risk types of investments while bonds and CDs are low risk types of investments.
How to Invest 1000 Dollars and Double it?
You need to open an account a stock broker trading account if you want to invest 1,000 dollars in stocks. All you need to do is to choose the best stock trading, create an account, once being approved fund your account and start buying shares.
The best way to invest 1000 dollars is to allocate it. Asset allocations means the way you distribute your assets. Example, you can invest 700 dollars in stocks and the difference should be invested in low risk investments.As a guide, please read how to start investing in stocks and how can you buy US government bonds.
Formula to Double Your 1,000 Dollars
Now, to double your 1,000 dollars investments. Just calculate the possible return of your investments using the rule of 72. Just divide the number of years to 72. Example, you want to double your 1,000 dollars investment in 5 years, your investment should earn at least 14.4% per year within five years so that your 1,000 dollars will turn into 2,000 dollars.
There are many ways on how to invest 1,000 dollars and double it, just choose which one is the best that can help you achieve your investing goal. To know what will 1000 dollars be worth in 20 years, please read future worth of 1,000 dollars investment. I hope you liked our tips on how to double 1000 dollars.
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