How can I double 7000 USD?

Mauritius
December 16, 2019 12:52pm CST
I have received 7000 USD recently. I don't want to go out spending it on technological gadgets, clothes or entertainment. I want to double this money. How can I double 7000 USD? Should I buy some items and re-sell them? Should I rather keep it in bank and reap worthy interest after a decade? Let me know your thoughts.
3 people like this
3 responses
C
@ShyBear88 (59306)
• Sterling, Virginia
16 Dec 19
Put it in the bank like in a CD and earn interest on it for a certain period of time. You could but it in stocks but I don’t know anything about stocks.
1 person likes this
Kevin
@excellence7 (3647)
• Mauritius
16 Dec 19
I don't want to take the risk of the stock market and as for bank, I will have to wait for too long before getting a reasonable interest rate from this amount.
1 person likes this
Kevin
@excellence7 (3647)
• Mauritius
17 Dec 19
@ShyBear88 Do you know any online bank where I can easily encash interest in the short run?
C
@ShyBear88 (59306)
• Sterling, Virginia
17 Dec 19
@excellence7 CD depend on your bank some a very cheap like the 3-6 months ones have the free take out and the interest are pretty low depending who you go through.
1 person likes this
Pinay Ako
@AkoPinay (11544)
• Philippines
16 Dec 19
If I have that money here in the Philippines, I'd buy land preferably by the beach where I could relax when I get old and weak. Price of land go higher and higher so it is a good investment too. I can resell it if needed.
1 person likes this
Kevin
@excellence7 (3647)
• Mauritius
16 Dec 19
I wish I could do the same but the price of land in my country is really high.
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Pinay Ako
@AkoPinay (11544)
• Philippines
16 Dec 19
@excellence7 in the Philippines price is depends on locations. It is really high too in known places like near Boracay, Bohol, Palawan, etc.
1 person likes this
Bhem
@JustBhem (70555)
• Davao, Philippines
16 Dec 19
If I receive that money maybe I will buy a property and make it a boarding house so that I can have money monthly and who knows I will double it in no time as that kind of business here is in boom at the moment.
Kevin
@excellence7 (3647)
• Mauritius
16 Dec 19
Do you think this can be achieved in 7000 USD?
1 person likes this
Kevin
@excellence7 (3647)
• Mauritius
17 Dec 19
@JustBhem In my country, I will need much more to be able to achieve this because the cost of living is high in Mauritius.
1 person likes this
Bhem
@JustBhem (70555)
• Davao, Philippines
16 Dec 19
@excellence7 In Philippine peso I think.