Double your money in 5 years?
Singh87_2
Forumite 21 Posts
Hey guys....
If you wanted to double your money in 5 years, how would you do it? And I don't mean, £5 to £10 (lol) but something like £100k to £200k? I'm not intending to use this thread right down to each letter, but just want some thoughts and ideas of how people would go about doing this? Would you look into a diverse portfolio of funds, or would you buy say 5 buy-to-let properties?
I think it'll be interesting to hear what you guys would do! Assume this guy is prepared to lose all of it, and just wants to do what ever it takes to double it's money (but without suggestions like buy 100,000 lottery tickets
)
If you wanted to double your money in 5 years, how would you do it? And I don't mean, £5 to £10 (lol) but something like £100k to £200k? I'm not intending to use this thread right down to each letter, but just want some thoughts and ideas of how people would go about doing this? Would you look into a diverse portfolio of funds, or would you buy say 5 buy-to-let properties?
I think it'll be interesting to hear what you guys would do! Assume this guy is prepared to lose all of it, and just wants to do what ever it takes to double it's money (but without suggestions like buy 100,000 lottery tickets
) 0
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Replies
How about buying a flat for more than £100000 (ie whatever they're going for) in a good location in London and he sells in a year to hopefully gain a profit of £100000 after CGT?
Look forward to hearing from other people. Very good post!
JJ
At the moment the UK market and house prices are both looking dubious. Buy to let is unlikely to double your money without selling so that would be dependent on house prices.
You could go for some high risk areas - emerging markets - equities/property but I think it will prove difficult to find opportunities than a few years ago.
You could use savings products and hope that inflation/interest rates increase to give that sort of return - but then the money wouldn't be worth double in real terms.
Maybe set up a business or two and develop then sell?
im considering the super isa from the abbey this year , 8.1 % for the wife and i , followed by a 23% min return on a further 6k you have to invest in one of their ftse tracker bonds
might go some of the way but id be interested in other ideas also
The 23% is over 5.5 years so about 4% p.a.
That's not going to get you very far. An ordinary savings account would give you more even after tax.
Run events for pubs and clubs, you get to keep door takings and the owner gets the bar proceeds
Its been possible in the last 5 years (with not a lot of effort to be fair). However, it is unlikely in the next 5 years. I will let you borrow my crystal ball though if you like
A 100% return over 5 years is not at all unlikely in stock market investment - you just have to accept the risk...what is certain is that with cash and Premium Bonds you will be lucky to stay just ahead of inflation.
The Abbey product is junk.
Cash ISAs are very similar but of course you have less choice.
DH and I have a 5-7 year plan which requires a substantial amount of money. We still have a great life, but no unnecessary spending. All our spare money is put into saving and investments.