How to turn £5,000 into £50,000 during the next recession

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!
«1

Comments

  • 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.
    Mortgage start date: 01/10/2021
    Original mortgage debt:
    £128,000
    Remaining debt (20/01/2024):
    £100,641
    Daily interest: £3.39
    Mortgage debt end of 2023: £101,528
  • mikep22
    mikep22 Posts: 1,529
    First Anniversary First Post
    Forumite
    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.
    Debt: May 15: £17335 Jul 16: £13874 Jan 17: £11,606 Dec 18: £8,308 Sept 19: £4,969 Jul 21: £890
    :beer:
  • Grumpy_chap
    Grumpy_chap Posts: 14,363
    First Anniversary First Post Name Dropper Combo Breaker
    Forumite

     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
    lincroft1710 Posts: 17,446
    Photogenic Name Dropper First Anniversary First Post
    Forumite
    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
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • dcfc67
    dcfc67 Posts: 395
    First Anniversary Name Dropper First Post
    Forumite
    matched betting and sports arbitrage is the only way. (safe)

    if you are fearless crypto arbitrage (very risky)
  • Neither are the hard graft way - which is what this board is about.
  • 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.
  • Buy gold & hold 
  • 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.
  • panda4556 said:
    Buy gold & hold 
    Gold wont do it.
    You are unlikely to turn £5k of gold into £50k in a couple of years.
Meet your Ambassadors

Categories

  • All Categories
  • 341.6K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.1K Spending & Discounts
  • 233.8K Work, Benefits & Business
  • 605.9K Mortgages, Homes & Bills
  • 172.4K Life & Family
  • 246.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards