7 Ways to Double Your Money (Fast) Jeff Rose describes his methods for making money quickly.

By Jeff Rose Jul 22, 2020

Opinions expressed by Entrepreneur contributors are their own.

Financial advisor Jeff Rose talks about seven ways he makes money quickly. He explains the "Rule of 72," a formula to determine how long it would take for an investment to double given a fixed annual interest rate. Assuming an average return of 10 percent, stock investments, for instance, would take 7.2 years to double in value. A high-yield savings account with an interest rate of 1.05 percent, on the other hand, would double in approximately 68.5 years.

To make money more quickly, Rose advises these methods:

Open an account with a trading service such as Robinhood or Webull, which offer free stocks for opening or funding an account or for inviting friends to join
Buy IPO stock
Flip sneakers purchased on Stockx on eBay or via the Snkrs app
Sell freelance services on the Fiverr platform
List and sell items from your garage or attic or that you find at garage sales on eBay
Flip internet domains using the Flippa platform
Buy an online learning course and apply the lessons

Jeff Rose

Certified Financial Planner, Author and Blogger

Jeff Rose is an entrepreneur disguised as a certified financial planner, author and blogger. He's best know for his blog GoodFinancialCents.com and book, Soldier of Finance: Take Charge of Your Money and Invest in Your Future. He's also the editor of LifeInsurancebyJeff.com. He escaped a path of financial destruction from dropping out of college with over $20,000 of credit card debt to become a self-made millionaire. His mission is help future generations achieve financial freedom by developing strong money habits and unleashing their entrepreneurial spirit.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Most Popular

See all

Leadership

7 Telltale Signs of a Weak Leader

Whether a bully or a people pleaser who can't tell hard truths, poor leadership takes many forms.

By Peter Diamond

Franchise 500 Annual Ranking

50 Franchise CMOs Who Are Changing the Game

Get to know the industry's most influential marketing power players.

By Jeff Cheatham

Thought Leaders

6 Tips From a Clean Beauty Entrepreneur

Sarah Biggers went from a newbie in the natural beauty space to a pro in just a few years. Here are six things she wishes she'd known at the beginning.

By Sarah Biggers

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

By Amanda Breen

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

By Cynthia Kay

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

By Ben Angel