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How to turn £5,000 into £50,000 during the next recession
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OddBall121104
Posts: 2 Newbie
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)?
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!
Thanks in advance!
0
Comments
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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 (05/07/2025): £82,885
Daily interest: £2.79
Mortgage debt end of 2023: £101,528 | Mortgage debt end of 2024: £88,8762 -
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.Debt: May 15: £17335 Jul 16: £13874 Jan 17: £11,606 Dec 18: £8,308 Sept 19: £4,969 Jul 21: £890
:beer:0 -
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.)1 -
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 1986If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales2 -
matched betting and sports arbitrage is the only way. (safe)
if you are fearless crypto arbitrage (very risky)-1 -
Neither are the hard graft way - which is what this board is about.2
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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.0 -
Buy gold & hold-1
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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 19860 -
panda4556 said:Buy gold & hold
You are unlikely to turn £5k of gold into £50k in a couple of years.1
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