How to Turn 10K Into 100K (25 Best Methods)

How to Turn 10K Into 100K


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Are you interested in how to turn 10K into 100K? Learning how to make your money work for you is foundational to building long-lasting wealth.

The first step is seeing your $10,000 as an opportunity to invest rather than anything else, such as taking a lavish vacation, like most people when they come up on 10K.

Whether it’s investing in the stock market, investing in real estate, or even starting your own business, there are countless ways to double, triple, or even quadruple your money in relatively short time.

Do this a few times with 10K and next thing you know, you have 100K. With that said, as long as you’re willing to do the research and put in some effort, turning $10,000 into $100,000 is much easier than most people may assume.

However, depending on the method you choose, it may take several months, a year, or even a few years.

Best Methods to Turn 10K Into 100K

While there are countless ways to turn 10k into 100K, here is a list of the 25 best methods.

Some of the methods involve investing in things like the stock market, while others involve things like starting your own business.

Some methods are easy to get started and some are a bit more complicated.

Furthermore, some methods will take a year or less to turn 10K into 100K, while others may take a few years.

Regardless of which method you choose, the key is simply getting started.

Note: Not every method is a good fit for everyone. It’s important that you do your own research and due diligence before choosing a method.

1. Start an Online Business

Starting an online business is one of the best ways to turn 10K into 100k. It’s also one of the fastest methods.

There are countless products and services you can sell online with your own business. For example, you can start an ecommerce store selling consumer electronics.

Depending on the type of online business you start, it may not even require all $10,000 to get started.

However, if you decide to create your own digital products, the $10,000 will definitely come in handy.

2. Invest in Index Funds

Investing in index funds is a great way to turn 10K into 100K in just a few years with little to no effort on your part. An index fund is a group of specific stocks that track an entire index, such as the S&P 500.

Historically speaking, index funds have performed relatively well with average returns of around 8% each year.

By investing in an index fund, you can minimize risk while also maximizing your returns. You will also be able to reduce your trading fees because they trade less often than other funds.

Furthermore, you can also minimize other fees by getting started on a legit money making app, such as a robo-investor like Acorns or Robinhood.

3. Invest in Real Estate

Investing in real estate is a great way to turn 10K into 100K if you’re more interested in tangible assets. It can also provide you with a much better return on your investment than the stock market.

Depending on the type of real estate investment you make, take rental properties for example, you will also receive cash flow through rent payments, in addition to home appreciation.

Considering this, rental properties are a great way to earn passive income.

With that said, there are also other ways to invest in real estate, such as buying a home, renovating it, and then selling it for a profit. This is known as “house flipping.”

4. Invest in Mutual Funds

Mutual funds are another great way to turn 10K into 100K. While they are similar to index funds, there are differences.

Unlike index funds, mutual funds are actively managed. This means their performance is less predictable. Because they’re actively managed, they also tend to have higher fees than index funds.

However, these fees are usually offset by their relatively higher returns compared to index funds.

With that said, if you’re fine with a bit more risk than the risk associated with index funds, mutual funds are a great option that are still considered safe investments.

5. Start a Service-Based Business

Are you interested in starting a business, just not an online one? If so, you can start an in-person, service-based business instead.

If you do start a small service-based business, $10,000 is more than enough to buy the required tools and equipment.

You can start a lawn care business, a window cleaning business, a junk removal business, a photography business, an interior design business, and so much more. The ideas for a service-based business are literally endless.

For instance, you can start a house cleaning business with just a mop, broom, rags, cleaning solution, and a few spray bottles.

6. Invest in REITs

REITs are a great option if you want to invest in real estate but don’t want to deal with property management, maintenance, and so on.

A real estate investment trust (REIT) is a company that owns and operates or finances income-generating real estate. Some focus on residential properties, while others focus on commercial.

With a REIT, individual investors have the ability to invest in hundreds of properties passively. REIT’s also provide investors other advantages like high liquidity, diversification, tax advantages, high-income dividends, and more.

7. Buy an Established Business

If you’re not interested in building a business from the ground up, but still want to be a business owner, you can buy an established business for $10,000 or less.

This will help you avoid dealing with all the stuff associated with starting a brand new business that most people don’t enjoy, such as forming an LLC, branding, and so on.

By being strategic and putting in the effort, you will be able to turn your initial investment into 100K or far more. Being an already established business, revenue will ramp up much quicker than it would otherwise.

8. Invest in ETFs

An exchange traded fund (ETF) is a great option for new investors. While they can be somewhat similar to mutual funds, ETFs have lower fees because they are not actively managed.

They also allow you to own several stocks in a single investment, rather than spending hours researching and investing in individual stocks. Simply put, ETFs are a great way to earn passive income while also diversifying your portfolio.

9. Invest in Dividend Stocks

If you want to turn your 10K into 100K through passive income, investing in dividend stocks is a great option to take advantage of compound interest.

Simply put, a dividend stock is basically a company that pays investors a small share of profits through a cash dividend instead of reinvesting it into the company for future growth.

The average return you can expect will vary from company to company. For instance, it can be around 0.60% APY or even around 13%. The cool thing is that the more you invest, the larger the quarterly (for example) checks you will receive.

10. Start a Blog or YouTube Channel

Starting a blog (or YouTube channel) is a very cost effective way to turn 10K into 100K and it’s not as hard as you may think. Blogging about a topic you’re passionate about is also a lot of fun.

However, you will have to devote more time and effort to things like creating content and growing an audience than you would with a different method on our list. You will also have to spend time learning the ins and outs of blogging.

With a blog, you can earn money from display advertisements, affiliate marketing, partnerships, selling your own digital products, and more.

11. Invest in an Initial Public Offering (IPO)

Although an initial public offering (IPO) is consider a high-risk investment, the right one can quickly 10X your investment or even more.

An IPO happens when a company joins the stock market and allows the public to purchase shares of the company for the first time. When this happens, the company typically see rapid growth or decline.

For instance, the IPO price per share of Shopify was just $17 when it went public on May 21, 2015. Just nearly seven years later, the price per share is $893 – as of writing this.

Considering this, if you had invested $10,000 in Shopify’s IPO, your investment would currently be worth more than $500,000!

12. Start a Podcast

If you’re very social and have great communication skills, you can start your own podcast to turn 10K into 100K or even more. However, depending on your situation, you may not even need to make an initial investment of $10,000 for needed equipment.

With a podcast, you will interview influential people within your niche or any topic you’re interested in, such as sports, business, music, politics, and so on.

Once you have attracted a decent-sized audience, you can make money through affiliate marketing, sponsorships, complementary products, and much more.

13. Invest in a Roth IRA

Investing in an individual retirement account (IRA) and a 401(k) is a great way to accumulate wealth while also reducing your tax liability.

Most companies offer their employees a 401k plan and allow them to invest a percentage of their paycheck before taxes. They may even match your contributions up to a specific amount.

Considering this, you should take advantage of your employers 401K and max it out before opening an individual retirement account.

While a Roth IRA will allow your investment to grow tax free, a 401(k) has even more tax benefits than an IRA.

14. Flip Products

While it’s quite different from most other methods on our list, flipping items on a e-commerce platform like Amazon or even an online flea market is a great way to turn 10K into 100K.

By using your funds, you can buy items and then resell them at a higher price to make a profit. Do this enough times and you will end up with $100,000.

You can flip items like sports cards, electronics, sneakers, clothing, furniture, and more. The options are nearly endless.

15. Start Dropshipping

Simply put, dropshipping is a form of ecommerce that is a great way to turn 10K into 100K.

All you need to do to start dropshipping is choose a super popular product, create an online store on a platform like Shopify so your customers can make orders, and then invest your 10K in advertising to drive traffic to your store.

The great thing about dropshipping is that you won’t need to carry inventory. Instead, you will facilitate customer orders through your third-party sellers, who will ship the product to the buyer directly.

16. Start Freelancing

Freelancing is a great way to turn 10K into 100K. Not only can it be done in a fairly short amount of time, your initial investment to buy any equipment you may need should cost much less than $10,000.

Simply put, a freelancer is someone who is self-employed and works remote that offers their services on a per-task basis.

As a freelancer, there are countless services you can offer – copywriting, web design and development, digital marketing, virtual assistance, graphic design, video editing, and so much more.

17. Become an Affiliate Marketer

Affiliate marketing is basically getting paid to sell products for other companies. An affiliate marketer is someone who recommends other businesses products or services to the business’s target customer.

Simply put, you choose a niche you’re interested in, join an affiliate program, and then generate content in one way or another geared towards your target audience.

Each time someone you refer purchases their product or service, you will receive a commission. This is known as affiliate marketing.

Because you’re not a part of the company selling the product or service, you don’t have to worry about inventory, payment processing, or customer service. Your 10K can be used to create content, run ads, and more.

18. Open an Etsy Store

If your an artsy person, there are countless crafts and homemade goods you can sell with your own Etsy store.

Etsy is the largest online marketplace where people can buy and sell art, crafts, vintage items, and other homemade goods. With that said, this is a great platform to turn 10K into 100K by selling your own handmade goods.

19. Invest in Cryptocurrency

Although cryptocurrency is a controversial investment, many people have turned $10,000 into much more than $100,000 in very little time.

If you do decide to invest in cryptocurrency, like any other investment, never invest before doing your own research and due diligence to understand exactly what you’re investing in.

Warning: Due to its volatility, if you invest in cryptocurrency, be prepared to lose your entire investment. Cryptocurrency is one of the most high-risk investments you can make.

20. Get a side Job

While side jobs from home aren’t necessarily an investment, they will increase your income. With that said, many of them do require an initial investment for things like equipment and even software.

For instance, if you get a side job from home as a transcriptionist, you will need a large monitor, noise-canceling headphones, a foot pedal, and high-speed internet. Fortunately, this shouldn’t cost you anywhere around $10,000.

21. Invest in Yourself

While it may not pay off overnight, Investing in yourself will always be one of the best investments you can make. The more skills you have, the more you will earn.

To invest in yourself, you can further your education by reading books, taking online courses, listening to podcasts, finding a mentor, getting additional certifications, or even going back to school.

Pursuing any of these options will expand your knowledge and skills, and ultimately help you make more money.

22. Invest in Bonds

While bonds are not the fastest way to turn 10K into 100K, they are considered safe investments. There are several different types of bonds, each which have their own pros and cons.

For instance, treasury securities, such as municipal bonds, are among the lowest risk investments you can make. However, with low risk comes low returns.

With that said, interest rates you will receive from bonds will vary based on market conditions.

23. Invest in a Certificate of Deposit

Simply put, a certificate of deposit (CD) is a low-risk investment. When you open a CD, the bank will guarantee you a specific amount of interest once it has matured after an agreed amount of time.

For instance, if you put $10,000 into a CD at 2.9% interest (for example) with a time frame of one year, you will have earned $290 upon the maturity date. Keep in mind that you won’t be able to withdraw your funds in the meantime.

24. Open a Money Market Account

A money market account is similar in nature to bonds, as they don’t have high returns, but involve little to no risk.

Considering this, a money market account is a great option if you have very low risk tolerance.

Money market accounts are offered at most banks.

25. Open a High-Yield Savings Account

Although a high-yield savings account is the slowest way to turn 10K into 100K, it’s also the safest way.

Considering this, it’s a great option for someone who wants to grow $10,000 with virtually no risk involved.

Dedicating a tiny percentage of your portfolio to a high-yield savings account is also a great way to diversify your investments.

How to Turn 10K Into 100K FAQs

Here are a few frequently asked questions about turning 10K into 100K:

How Can I Get Rich With 10K?

Getting rich with only 10K is going to be very difficult. While some people have become very wealthy without using much money at all, it’s pretty rare.

Your best bet is to use the funds to start your own business and slowly grow it over several years. Depending on how hard you work and how successful your business becomes, you may end up as a millionaire, with a little luck.

With that said, if you’re serious about getting rich, you should always have a long-term mindset anyways. The best way to build wealth is being consistent for several years in whatever you do.

How Do I Convert 10K Into 100K With Stocks?

To convert 10K into 100K with stocks, you have a few options – invest in something like a mutual or index fund for the long-term or trade stocks on a daily basis.

While converting 10K into 100K with long-term investing will take a few years, day trading is much riskier. According to CNBC, most day traders lose money.

Considering this, if you want to be a day trader that actually makes money, you will need to spend countless hours learning the basics, studying markets, creating a comprehensive strategy, and much more.

Final Thoughts on How to Turn 10K Into 100K

While turning 10K into 100K isn’t easy, with the right method, strategy, and a bit of patience, it is very possible.

You can invest your 10K in the stock market, cryptocurrency, real estate, start your own business, buy an established business, and so on. Every method on our list is a great option.

With that said, to determine which method is right for you, make sure you do your own research and due diligence before investing your 10K.

If you have low risk tolerance, you may want to consider something like an index fund. If you have high risk tolerance, you may want to consider something like an IPO or even cryptocurrency. However, always keep diversification in mind.

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