Three Easy Ways to Double Your Money By Investing

What’s the most straightforward way to double your money? Keep your cash up in front to a mirror, says the punchline of an old joke. Unfortunately, the approach does not even come close to increasing your income or purchasing power. A smarter approach is to invest your money in the stock market, where you can double the real, spendable value using basic principles.To get you started, here are three of those terms.

1. Employer 401(k) match

Employer match is the simplest and most consistent way to double the money in a savings account. What you have to do is add to your 401(k) and then stick with your current boss until you’ve reached max vested status. When you get paid, the boss deposits money into your account based on a calculation.Any companies align dollar-for-dollar, which means you’re being paid twice as much any single paycheck.

Request your matching and vesting rules from your scheme administrator. Then adjust your contributions and begin preparing your career future within the organization.

2. Time doubled

The estimated annual growth rate of your portfolio determines how long it takes to double the assets in the stock market. If you know your growth rate, divide it by 72 to get an estimate of your doubling time. Your predicted doubling time in years is…