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How to Make Double our money
Yes, with minimal risk, we can double our money.
Hello everyone, I’m glad to meet you all on another blog.
Today, we’ll look at how to double your money, which can help you construct a better future.
Let’s get started.
How are we going to do it?
Yes, we can’t do anything without taking any risks. Therefore I’ll give you some suggestions to assist you in deciding.
Rule 72 is the technic; it is an older one, but it is well-proven.
What is the mechanism behind this technique?
How will I double my capital if I only have 20,000 Rs?
To double my money, the first thing I did was approach any bank or financial institution.
For example, if they give me 12% interest, 72/12 =6 years, I can double my 10,000 into 20,000 in six years. While this is a safe investment, it still takes a long time to double the money.
Here are techniques that will help you quickly quadruple your money.
Before you invest in anything, do some research.
Look for the most acceptable profit-giving bank or organization, and make a goal for what you are saving your money for your house dreams, Travel, Marriage or studies next how much money you want to save.
First, Implement rule 72 in every step.
It’s an effortless technique to compute independently; you won’t need any financial advice. Divide your years by 72, and you’ll obtain your years at 8%, 72/8 = 9 years. So now you can know at what Rate of interest you can double your money in how many years it required to do
It would help if you now determined whether or not to take a chance.
if you’re willing to take a chance
The stock exchanges
You can invest your money in stocks that offer you money overnight, but there is a chance that if you buy the wrong stocks, your entire investment will be lost, so it is a small risk with a huge payoff. Learn about stock before invest
It’s an old money-saving method in which you may buy a particular amount of gold for your money, but it has the potential to increase or decrease over time; therefore, it falls under the category of risk. However, unlike stocks, you won’t lose your capital because your capital money will be saved in gold.
You can invest inland as well, but it may or may not yield high or low profits depending on the market.
” Decide if you want to deposit money for a short or lengthy period.”
Investing with Low Risk
Mutual Funds (MFs) are a type of investment.
We can make a long-term investment because it took 6 to 7 years to complete.
Deposit at a bank
It is also long-term in any bank you can invest in but a secure investment. interest may change bank to bank
The National Savings Certificate (NSC) certifies a long-term investment. There is no maximum deposit restriction of 6.8% per year, but you can acquire a loan from a bank through NSC for a maximum of 5 years (80c Tax EXCEPTION )
Kisan Vikas Patra
You can double your money at 6.9% each year for 124 months. It is not a digital investment; you must go to their location and pay cash. ( Post office scheme )
Hope I have coved little about 72 rule this rule will help people to calculate their period of investment so that you can plan your goals to implement
I will post lots about investment in another blog
Be safe Be Happy