Are you looking to turn 10k into 100k? While it might seem impossible, it's actually easier than you might think!
There are many types of investments you can make to grow your money and build wealth. But which one's are right for you?
By following some of the methods on this list, people have made fortunes and become self-made millionaires. So what's stopping you?
Before you go investing all $10k into the stock market with the hottest stock, you'll want to do your research and keep your portfolio diversified so you don't lose your fortune.
In this post, I'll explore how to turn 10k into 100k, some of the best investments to make, how long it can take to 10x your money, and much more. Let's get started!
How to Turn 10K into 100K Quickly
Below are some of the best investments to grow your money. Whether you choose real estate investing, treasury securities, or building a portfolio of stocks – the first step is to get started to make more money!
Invest in Real Estate with Fundrise
If you want to invest in real estate without the headache and stress that a rental property comes with, using a crowdfunded real estate platform like Fundrise or Realty Mogul are great options to make compound interest.
For those who want to invest in real estate with a lower risk level – using crowdfunded real estate is a great option. It's also a great way to escape the rat race because it's a passive way to grow your money.
With this investment you'll be grouped with other investors to purchase large real estate assets that make money. The initial investment is only $10 with Fundrise making is a good option for both new and experienced investors.
Your returns with crowdfunded real estate can be anywhere from 5% to 15% depending on the investment. Take a look at the historical returns below.
There's also another way to invest in real estate that often gets overlooked.
Groundfloor is a platform that allows you to invest in real estate debt with as little as $10.
So what exactly does that mean? In simplest terms whenever an investor is looking to make an investment in a property, they might be short on cash to complete the project. This often comes up when flipping houses or other properties. By lending the investor a small amount of money, they can complete the job and you'll get paid for your help too.
Invest in Index Funds
The stock market can be an excellent way to turn 10k into 100k in a few years time.
By utilizing index funds you can maximize your returns while also limiting risk. Index funds are a group of stocks that track an entire index like the S&P 500 and they can be a great way to turn money into more money.
Index funds have performed historically well returning around 8% each year to investors and you don't need a financial advisor to get started.
By investing in index funds you'll get the benefits of a well diversified portfolio with low fees that has relatively little risk in the long term.
To get started, I recommend using a platform like Acorns. This easy to use investing platforms allows you to trade stocks and invest your money with ease. As a bonus, you'll get up to $250 completely free to invest with the link below!!
If you want to invest in the stock market and grow your money, I always recommend Acorns. Here's why:
- Low initial minimum investment of just $10 – making it a perfect option for beginners
- Get $10 free to invest – who wouldn't want free cash to invest?
- Fractional shares – don't have a fortune to invest? You can still purchase portions of a stock to fit your investments.
- Easily invest with automated tools to reach your goals.
If you're looking for a more traditional way to invest you might consider a brokerage firm to buy and sell your investments. There are some index funds that average 12% returns annually – making them one of the best investments to grow your money.
Not sure which index funds to invest in? Check out the video below for some help and don't forget to claim your free money with Acorns here!
Invest in Mutual Funds
Mutual funds are another brilliant way to make money from your investments and build wealth.
A mutual fund can be thought of as a group of stocks and investments that can easily be purchased or sold via the stock market.
When compared to index funds or ETFs – mutual funds tend to have higher fees because they are actively managed portfolios. However, many of these fees are typically offset by the stronger performance of the fund.
Mutual funds are a great way to grow your initial investment without significant risk. You can always check the performance of the fund before making any investment. This can help you to vet the fund managers to see if they routinely beat the market or not.
Turn $10k into $100k Investing in Small Businesses
Are you looking for an investment that has a strong growth potential? Investing in small businesses is exactly that.
By using platforms like Mainvest you can easily invest in a variety of small businesses to generate passive income and earn $100k from your investment.
From restaurants to breweries, there are plenty of investment options across the country to grow your money. And with target returns of 10% to 25%, this can be one of the most lucrative investments if you want to turn 10K into 100K.
They make it easy to grow your money. Register below to get started!
Invest in ETFs
Exchange traded funds, or ETFs, are very similar to mutual funds but the fees tend to be somewhat lower.
Because ETFs are not actively managed portfolios they have lower fees than other options making it one of the best investments to make passive income.
Because of the diversity in an ETF, you won't have to spend hours doing research or growing your knowledge about companies to invest in and they have low risk.
If you're looking for an investment that is easy to grow your money, ETFs are a great option.
Want to start investing in ETFs? Register with M1 Finance below to get started!
Invest in Dividend Stocks
Dividend stocks are an awesome method to take advantage of compound interest and make more money.
In fact, some people make a living by trading stocks.
To get started you can use a robo advisor like M1 Finance to round up every dollar you spend and invest it automatically for you. Register below to get started!
Dividend stocks are quite simple to understand. Whenever a company makes a profit they can choose to reinvest their profits into the company or disperse the profits to investors through a cash dividend.
Dividend stocks tend to be more mature companies in lower growth stages as they don't need the capital to continue to grow.Check out this post to learn how to make $500 a month in dividends!
Not sure which dividend stocks to invest in? Check out the video below!
Retirement Investment Accounts
Investing in retirement accounts like a Roth IRA or 401(k) is an exceptional way to build wealth while limiting your tax bill.
Whenever you buy and sell stocks or other investments, you'll be forced to pay taxes on them. Depending on the duration you held them for it can be long term capital gains or short term capital gains.
Accounts like a Roth IRA allow your pre tax income to grow with the market.
A 401(k) has even more tax benefits. No only is the cash you invest pre tax income, but it will also grow tax free. But that's not it! Many employers will match your investment into a 401(k) for an added bonus.
Utilizing retirement accounts is an essential way to invest your money in the market without landing a massive tax bill come April.
Retirement accounts like a Roth IRA can contain any of the above investment types to grow your money. You can buy and sell your investments as you wish.
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Purchase a Rental Property
If you want more control of your real estate investment with the potential for much higher returns, purchasing a rental property is one of the best investments to grow your passive income.
When compared to the income you can make from stocks on wall street – the returns on rental properties can be much larger.
But you'll need some patience to get there. The income from rental properties can take a few years to start growing.
For example, if you purchase a rental property for $200,000 and rent it for $2,000 a month with a mortgage of $1,500 a month you would net an extra $500 a month from your rental.
But that's not the only way you'll make money. In addition, because real estate is an appreciating asset, it will likely go up 2% to 3% annually in value. On the $200,000 property, this can amount to $4,000 to $6,000 per year or $330 to $500 a month.
Another consideration is your rental income. Rents don't typically stay the same for decades. You can often increase the rental price by 1% to 2% per year. This means that in year two, your income could be $2,020 per month while your mortgage stays the exact same.
Now you see how rental properties can be an excellent way to build your passive income. But that's not it!
There are many tax advantages you get with owning a rental property. As mentioned with stocks, you'll have to pay capital gains taxes whenever buying or selling investments. With a rental property you can depreciate your property over the course of 20+ years for tax purposes in addition to many other tax advantages you'll get.
What does this mean?
Your tax bill will be minimal until it comes time to sell the property.
If you want the best investment to grow your money, owning a rental property can be at the top of the list for some.
The downsides of owning a rental property are usually quite obvious. What happens if your tenants stop paying rent? What happens if tenants destroy your property? What happens if you cannot find tenants in the first place? What about major repairs to the home?
All of these are legitimate concerns you should consider before purchasing an investment property.
Invest in REITs to Turn $10k into $100k
REITs, or real estate investment trusts are another way to make passive income via real estate.
With this investment option, you can invest in a variety of real estate assets through the stock market. REITs are traded publicly on stock exchanges making them extremely easy to invest in.
The returns on many REITs are quite strong, matching the stock market at around 7% to 10% annually.
What I love most about investing in REITs is that similar to crowdfunded real estate, your holdings are diverse. You aren't investing in a single property – but instead hundreds. You can also pick the REIT that best suits your interests. Some REITs focus only on commercial properties while others focus more on residential.
If you want to invest in REITs, download Acorns and claim your free $10 to get started!
Invest in Commercial Real Estate
Another great option to diversify your investments is using commercial real estate. You can use a crowdfunded platform like Streitwise to invest in a variety of commercial assets like office buildings, strip malls, and other opportunities.
These assets tend to be more steady and have stable income than some residential offerings.
Streitwise has extremely strict qualifications to invest in. For you, that means tremendous returns. They are averaging over 9% returns – which is a great return for your money.
While the minimum investment is larger than other options at $5,000 – it's a great way to diversify your portfolio. Ready to get started? Create your free account here or use the link below!
Start a Blog to Make $100,000
Starting a blog can be a fun way to make $100,000 with less than $10,000 to start.
With this investment, you'll need to dedicate more time to growing your audience and creating content than other investments. You'll want to learn all the tools and resources available to help you at the beginning stages as this can set your site up for long term growth.
Blogs and websites can start making money through a variety of ways. Display ads, affiliate marketing, and online courses are just a few examples of possible monetization methods but there are many others.
For example, you could also sell digital products or offer coaching services from your site.
Starting my own blog has been the single best investment I've ever made. Below shows my 2021 income for my portfolio of sites.
And no – you don't have to be an expert writer to get started. Starting an online business can be done by just about anyone with a passion for the subject.
As your blogging knowledge starts to grow, you'll become more efficient and you'll be capable of making more money.
Aside from the income you make every month from your blog, you can also consider selling it one day for a potentially large gain.
Blogs will typically sell for around 35 to 45 times your monthly earnings meaning that if your site makes $10k a month, you could potentially sell it for over $400k!
It can take some time to build a profitable blog, so it's important not to give up too soon. In many cases, you'll want to dedicate at least 6 months to growing your site, but in some cases it can take over a year.
If you're ready to start a blog, I recommend purchasing a domain through Namecheap and hosting through SiteGround. They offer top-rated customer service and affordable prices for anyone looking to get started.
Start a Podcast or YouTube Channel
Another great way to turn $10,000 into $100,000 is by starting a podcast or YouTube channel. These forms of content creation can be some of the best ways to make an extra $10k per month or more. The income potential is limitless! Check out some of the top YouTuber's below.
You can start making money from your side hustle through affiliate marketing, show sponsors (for podcasts), and YouTube's advertising platform.
Best of all, you can get started with less than $10k. To start a podcast or YouTube channel, you'll need some basic equipment and software that will likely cost less than $1,000.
The return on investment for many podcasts and YouTube channels can be tremendous.
But it will take some work to get there. Most podcasts will fail within one year, but the successful ones stick around and don't give up.
Try Retail Arbitrage
Retail arbitrage is a good side hustle for anyone looking to make money in their free time. This is very similar to flipping, except you'll focus on finding deals at retailers instead of thrift stores.
If you want to turn $10,000 into $100,000 – retail arbitrage can be a fun way to grow your wealth.
To get started, you'll need to visit local retailers to find the best deals possible. When shopping, try to find items that are highly discounted. When you find something that looks like a steal, look up the item on sites like Amazon and eBay. If there's a massive price difference, pull the trigger and purchase it. Then you can list if for sale to turn a profit.
The initial investment for this method is low, but you can certainly turn $10,000 into $100,000 with some hard work.
Websites and blog can be extremely profitable income producing assets to own.
There's a large market for people buying and selling websites and other online businesses. Just like physical items, flipping can be done to websites to make money.
For example, you can buy a website on sites like Flippa or EmpireFlippers. The financials of the business should be listed.
Take a look at this listing on EmpireFlippers. This website currently makes almost $3,500 per month and can be purchased for $151,000.
To flip the website, you'll need to understand how to grow it's profits so you can sell it for a gain.
For example, if you could increase it's earnings to $7,000 a month – you could sell if for around $300,000 for a $150,000 profit.
Flipping websites takes time and some advanced skills so I wouldn't recommend it to someone with no experience building websites. However, if you have some strong marketing skills and know what goes into building an online business, this can be one of the best ways to turn $10k into $100k.
Related Reading: How to Turn $1000 into $10000
Start an Etsy Shop
Starting an Etsy shop and selling things online can be a profitable venture and a great way to turn $10,000 into $100,000 over time.
You can sell just about anything on Etsy. From wooden crafts to digital files, there are plenty of options to help you make more money.
One of the best things to sell on Etsy are digital products. These can be a tremendous source of passive income because once they're created you can sell them over and over again.
This can be an easy way to turn $100 into $500 or much more if done correctly.
Check out these cash envelopes I found.
They're selling for $10 and have sold over 8,800 times. That's over $88,000 in revenue so far!
Start a Business to Turn 10K into 100K
Starting your own business one of my favorite ways to make money and grow your income. Just like a blog or website, making the investment of starting a business will require a mix of time and money to get started.
There are many businesses you can start that are low cost.
For example, starting a power washing business might cost you a few hundred dollars to start but it could make a few hundred dollars of profit in the first month of operation.
Starting a business is unlike other investments in that you'll have significantly more control of your money and how it is utilized.
When compared to investing in the stock market like through a mutual fund, starting a company can be a much more profitable way to invest.
If you want to reach financial freedom or quit your day job, starting a business can be a great method. You can take advantage of the benefits of entrepreneurship while making a great income at the same time.
But it's not all sunshine and daisies!
Building a business can be difficult and require a ton of time and effort.
With over 50% of businesses failing, it's critical to have a strategy and plan to grow your business and make money.
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Build Wealth with Peer to Peer Lending
Another investment option to turn $10k into $100k is peer to peer lending. The name suggests how this investment works. You can lend money to peers in exchange for interest payments to grow your money.
The amount of money you can make will depend on the credit of the borrower. For those with lower credit scores, you can earn more money, but it comes with greater risk.
For those with strong credit, you'll earn less, but you'll assume less risk.
Balancing the risk and reward is essential with this investment. It's common to make around 4% to 6% annually with this method.
To get started, you can use a platform like Prosper.
Use a High Yield Savings Account
If you're searching for a guaranteed way to turn $10,000 into $100,000 no matter how long it will take, a high yield savings account is your best bet.
When compared to other risky investments like cryptocurrency – it's going to take more time for your money to grow.
Investors who are seeking little risk will often dedicate a small portion of their portfolio towards a high yield savings account.
My favorite account is through CIT Bank. This bank account pays more than 5 times the national average. As interest rates rise, utilizing this bank account is a great way to make money while you sleep. Register below to get started!
Grow Your Money with Art
Investing in art can be a lucrative way to make money. Using a platform YieldStreet is a good way to grow your earnings and turn $10k into $100k. With an average return of 15%, investing in art is a solid option.
While this type of investing was previously only reserved for those with millions of dollars, now, anyone can get started.
Invest in Bonds
While bonds aren't the quickest way to turn $10k into $100k – it's a pretty safe investment for your money.
There are several types of bonds you can invest in – each with there own benefits and drawbacks. For example, municipal bonds or other treasury securities can be some of the lowest risk investments you can make and it would be difficult to lose money. However, the returns are subpar.
Interest rates on bonds and bond funds can be low but will depend on market conditions.
There are some bonds that can produce decent returns. Corporate bonds are some of the highest yielding options, but they also come with more risk.
Just like a savings account, it's hard to lose money with bonds so most investors will allocate some of their money to them.
Money Market Accounts
Money market accounts are similar to savings accounts or corporate bonds in that they don't have the largest returns, but the are extremely safe.
This investment is a great option for those with a low risk tolerance. You can register for a money market account at many banks.
Certificate of Deposit
A CD is extremely similar to a money market account and can be opened at most banks and is a safe investment.
When compared to other investments like mutual funds or index funds, you won't generate nearly as much income but they are extraordinarily safe.
It'll take more time to turn $10k into $100k with a CD – but remember, you don't have to worry about losing your money.
Flip Items to Make Money
While this is by no means a traditional investment like others on the list, flipping can be a fun and lucrative method to grow your money.
Flipping will require a little cash upfront but you can quickly flip your money so that it grows exponentially.
Invest in Precious Metals to Grow Your Wealth
Investing in precious metals like gold, silver, and platinum has been a strategy that has lasted for centuries.
While the returns tend to be lackluster compared to other investments, there is one reason some investors like to hold precious metals – they are a tangible investment. This means that they have physical control of their asset (which isn't like many other investments).
Precious metals can be a good safe way to store your money and hedge it against inflation.
Related: How to Invest $25k
Invest in Yourself
While this method might not see overnight results, investing in yourself is one of the best ways to build your future wealth.
Whether you learn a new skill or advance your education, investing in yourself is essential if you want to reach financial freedom.
There are many different ways you can invest in yourself.
Some of the best include:
- Furthering your education through college
- Learning new skills (like taking online courses)
- Working on your physical health
- Taking care of your mental health
Invest in Wine
While it might seem crazy, it's possible to invest in fine wines with platforms like Vint.
This form of investing can be a great way to diversify your portfolio. Because the price of wine is determined by factors like harvest yields and consumer trends, it's not tied to current market conditions.
This means your investment isn't completely tied to other economic metrics like inflation, employment rates, and other metrics that many other investments are correlated to.
The returns for wine investing can be significant. While you won't double your money in a day – you can see returns of around 5% to 8% annually – which isn't bad all things considered. Take a look at the returns vs the S&P 500 over the last 10 years.
To get started, you can use a platform like Vint. With over $2 million invested through their platform it's a trusted way to invest in fine wines to grow your money. You can get started with just $25, making it a strong option for any investor.
Invest in IPOs
IPOs, or initial public offerings, are a type of investment that allows investors to purchase shares of a company during its initial public offering on the stock market.
IPOs are often seen as a risky investment, as the stock prices of new companies are often volatile.
If you're thinking about investing in an IPO, it's important to do your research and understand the risks involved.
This can be a great way to 10x your money if you pick the right stock.
Invest in Farmland
Did you know it's possible to invest in farmland?
Farmland can be a profitable asset to own that can hold steady during economic downturns and thrive in good economic conditions.
You can use a platform like AcreTrader to start investing and turn $10k into $100k over time.
With returns averaging 11% annually, this is a great way to invest your money and diversify your portfolio.
How Long Does it Take to Turn $10,000 into $100,000?
Depending on the investment you choose, it can take anywhere from a few months to a decade to grow your money to reach your financial goals.
You'll likely get various pieces of financial advice when it comes to your goals but it's important to remember exactly what your goals are and the lifestyle you desire. For example, you might want to save money instead of investing all of your capital.
Let's go over a few basic scenarios to understand how to turn $10k into $100k.
If you invest your cash in the market via a low risk index fund, you'll see an average return of 8%. As you can see with the chart below, it will take around 30 years to turn $10k into $100k with this method.
However, if you invest your cash into a company that turns a profit you could see an average return of 15% annually. With this scenario, it would take a little under 17 years to reach your goal.
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How to Turn 10K into 100K in One Year
The best way to turn $10k into $100k in one year or less is by starting a business or side hustle to make money.
These are effective and proven ways to reach your financial goal by putting in a lot of hard work and effort.
While investing in real estate can be a great option, it will take longer than 1 year to reach the $100,000 mark.
What to Do Before Investing
Before you go investing all of your money to turn 10k into 100k you'll want to complete some of these basic finance principals to manage money the right way.
Pay Down Debts
If you have credit card debt, large student loans, or other high interest debts you'll want to pay them down as much as possible before investing.
Debt can make growing your money a challenge. If you want to turn $10k into $100k – you'll need to craft a plan to reduce your debt as quickly as possible.
You might try making quick money to pay off debt or trying a few apps that give you free money.
Setup a Budget
Budgeting is by no means fun – but it's necessary if you want to reach your financial goals and achieve financial independence.
Most people neglect their monthly budgets which can cost them hundreds of dollars each month in wasted cash.
You don't need to be a finance expert to create a budget. Start by taking hold of your monthly income and expenses.
After writing them down, make sure you have a net positive cash flow. If not, you'll need to either reduce your expenses or make more money.
Create an Emergency Fund
There are many unexpected expenses that will likely popup on your journey to $100,000 and having an emergency fund can help you to navigate these times.
While finance experts recommend having an emergency fund of anywhere from 6-9 months of your normal expenses, start by saving just one thousand dollars.
Never Borrow to Invest
Whenever you invest you'll want to be sure you can afford to lose the money that you're investing. Because an investment can increase and decrease in value quite quickly, you'll want to ensure you have the money in the case something goes wrong.
If you borrow money to invest you run the risk of paying interest if your investment decreases in value.
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How to Double 10k Quickly
Doubling your money by investing is very similar to turning 10k into 100k, but it will oftentimes be much quicker.
To double your money, I recommend many of the same investments like index funds, real estate, or starting a small business.
If you want to double 10k quickly, you're going need to do some additional work.
I recommend you invest your money into an investment that has a stronger income potential like a business or blog rather than the market to double your 10k quickly.
Doubling your money is not a simple task and it's going to come with some additional risk, especially if you're in a time crunch. You might consider picking up a side hustle or growing your knowledge rather than using your cash to invest.
Another option to double your money would be utilizing an alternative investment like cryptocurrency or investing in art. While some people may not consider this to be an investment – it's up to you to decide.
Take a look at the price of Bitcoin over the past 5 years. It's hard to argue that it has not been a wise investment.
If you want to invest in Bitcoin and other cryptocurrencies, I recommend using Gemini.
Final Thoughts on How to Turn 10k into 100k
Turning 10k into 100k is not a simple challenge. It's going to take some time and energy to craft a strategy to grow your money.
Whether you choose the stock market, real estate, or even a traditional savings account – there are some methods that are faster than others. The more risk you are willing to take, the easier it can be to 10x your money.
I recommend keeping your investments diversified to ensure you don't lose all of your money from one mistake. By utilizing index funds, mutual funds, and ETFs you can limit risk while optimizing your returns.
No matter what investment you make – getting started is the first step to turning 10k into 100k. What're you waiting for?
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