Confucius once said, "Keep your friends close and your money closer." Well, maybe that's not exactly what he said; but doubling your money is still pretty good. Here are 3 ways to double your money!
Invest for long time
It's always been said that to double your money, you need to leave it alone for at least five years. The stock market is based upon investor confidence in present company value, and by buying a stock today, you are most likely hoping that your profits will be fully realized in the future. That's why some say you need to buy a stock and forget about it for at least five years. You can even take intraday trading tips.
It all starts with choosing the right stocks. For instance, if you buy shares of a well-established company, with a strong history of revenue and profit gains—and which has shown that their fundamentals will continue to trend in the same direction—you'll stand a much better chance at achieving your five-year investment goals.
Dividends
It's like a genie has granted your wish for more money — but you have to work for it. Dividends are basically a portion of company profits distributed among stakeholders in the company, like shareholders and families. In many cases, dividends are issued as cash payments, much like interest on a savings account. However, in some cases companies also distribute additional stock units to shareholders instead of cash. Get intraday tips for today from experts.
Growth stocks
You've probably heard of the term “growth stocks” before. As you notice, the phrase is pretty self-explanatory. Growth stocks are publicly traded companies that seem to be growing at an exponential rate. With growth stocks, you will see big returns on your initial investment. So, if you like investing in the stock market and want to double your money, growth stocks might be the way to go. There are many stock advisory that can help you.