5 Investing Tips to Double Your Money
The whole point of investing is to turn a little bit of money today into more money in the future. Doubling your money not only sounds like a great goal, but done enough times, it's enough to turn a small amount of cash into a fairly substantial nest egg. Doubled once, $1,000 turns into $2,000. Doubled twice, it turns to $4,000. Doubled 10 times, that single $1,000 investment can become a nest egg worth over $1,000,000.
That snowball effect of compounding is what makes doubling your money a powerful objective for your investing journey. With that in mind, these five investing tips can help you on that path to double your money, hopefully multiple times throughout your career.
Image source: Getty Images.
Source Fool.com