7 Ways to Double Your Money (Fast)

Jeff Rose describes his methods for making money quickly.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Certified Financial Planner, Author and Blogger
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Financial advisor Jeff Rose talks about seven ways he makes 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:

  1. 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
  2. Buy IPO stock
  3. Flip sneakers purchased on Stockx on or via the Snkrs app
  4. Sell freelance services on the platform
  5. List and sell items from your garage or attic or that you find at garage sales on eBay
  6. Flip internet domains using the Flippa platform
  7. Buy an online learning course and apply the lessons

Related: Do You Know More Than the Average American About Investing?

More from Entrepreneur

We created the Start Your Own Business (SYOB) course to help you get started on your entrepreneurial journey. You will learn everything you need to know about testing the viability of your idea, writing a business plan, raising funds, and opening for business.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur