How to double your money
In this article I’m going to explain to you how you can double your money pretty much guaranteed.
This probably sounds too good to be true and a scam but as I will explain its not.
A lot of people will think of roulette when thinking of how to double your money where you put your money on red or black but in roulette you have pretty much a half chance you will double your money and half a chance you will lose all your money. So I’m not talking about roulette.
So tell me how I possible can double my money! you ask.
It’s actually very simple and easy.
PUT IT INTO THE MORTGAGE
It’s that easy. Let me explain.
Let’s say for this example you have a typical mortgage interest rate of 5% and you live in the house.
You take your $100 that you want to double in this example.
You put that $100 into your mortgage.
That $100 now saves you $5 each year (5%)
After 10 years you have saved $50
AFTER 20 YEARS YOU HAVE SAVED $100 WHICH MEANS YOU HAVE DOUBLED YOUR MONEY
And that’s how it’s done! Easy right?
Imagine two identical people.
Person 1 just pays his minimum principle and interest repayment and pays the loan off over the 30 year term.
Person 2 pays his minimum and put in that extra $100.
Well person 2 ended up doubling his money by the 20 year mark.
Person 2 also saves another $50 by the end of the loan term of 30 years so really they got a 150% return on investment.
Imagine putting in $1000 or $10,000 or $100,000++ extra repayments into your mortgage! You will double all that in 20 years.
ANY MONEY YOU PUT INTO YOUR MORTGAGE PRETTY MUCH DOUBLES IN 20 YEARS BECAUSE YOU SAVE YOURSELF FROM PAYING THAT 5% INTEREST EACH YEAR!
That’s it guys nice and simple way to “invest” your money. Just pay off your mortgage. Paying off debt is investing in reverse 😉 Highest interest debts first. Thanks for reading.
The financial advice in this article is general only. I am not qualified to give financial advice. Before making a financial decision you should seek the advice of a qualified professional.