How to turn £5,000 into £50,000 during the next recession 7 November 2022 at 10:45PM in Boost your income 12 replies 1.9K views

OddBall121104

Hi all, 

With all the recent talk of a looming recession (and some saying we’re already in one), what would be the best way to turn £5,000 into a larger sum (say £50,000 or heck, even a million if we’re thinking big)? 

This is merely a thought exercise - I’m more curious as to how the huge inflation we’re seeing currently will affect “traditional” ways of making money during recessions (eg. Buy low, hold and sell high for stocks, real estate etc.)

Thanks in advance!

Langerhan

If there was a guaranteed way, everyone would be doing it already. It depends on so many factors - skill, resources, appetite for risk... The "best way" will be whichever way works, but you won't know that until it's happened.

mikep22

OddBall121104 said:

Hi all, 

With all the recent talk of a looming recession (and some saying we’re already in one), what would be the best way to turn £5,000 into a larger sum (say £50,000 or heck, even a million if we’re thinking big)? 

This is merely a thought exercise - I’m more curious as to how the huge inflation we’re seeing currently will affect “traditional” ways of making money during recessions (eg. Buy low, hold and sell high for stocks, real estate etc.)

Thanks in advance!

I think this is the wrong forum for this. Boost your income is about making small extra income to help make ends meet. I am sure there are lots of "get rich tomorrow" schemes you could research around.

Grumpy_chap

OddBall121104 said

 how the huge inflation we’re seeing currently will affect “traditional” ways of making money during recessions (eg. Buy low, hold and sell high for stocks, real estate etc.)

Buy low, sell high is always a good strategy and will beat buy high, sell low in any economic environment.

lincroft1710

I could help you if you wanted to turn £50,000 into £5,000. 


However there was a way to turn £5,000 into £50,000 in the 1970s. Just buy a house for £5,000 in 1972 and sell it for £50,000 in 1986

dcfc67

matched betting and sports arbitrage is the only way. (safe)

if you are fearless crypto arbitrage (very risky)

Catsacor

Neither are the hard graft way - which is what this board is about.

subjecttocontract

The best way is to find a product that is sought after, buy it low & sell it high. Seasonal products can make a good profit. E.G Heaters in winter.....Air Con in summer.
Christmas in December......Lawnmowers in spring.
Car roof boxes in the holidays.....garden furniture in the summer.
Etc. Etc.

panda4556

Buy gold & hold 

subjecttocontract

lincroft1710 said:

I could help you if you wanted to turn £50,000 into £5,000. 


However there was a way to turn £5,000 into £50,000 in the 1970s. Just buy a house for £5,000 in 1972 and sell it for £50,000 in 1986

The question was how to turn £5k into £50k during a recession......that's maybe a couple of years. None of us are expecting the recession to last 14 years. So property won't do it.

subjecttocontract

panda4556 said:

Buy gold & hold 

Gold wont do it.
You are unlikely to turn £5k of gold into £50k in a couple of years.