Some of these ideas are also completely passive, while others involve investing into assets and businesses that generate income for you. If you're ready to double $20,000, this is absolutely the post for you, so let's dive in!<\/p>\n
The Best Ways To Double $20,000<\/strong><\/h2>\nWe have lots of guides on WebMonkey about how to flip money<\/a> or invest and make money daily<\/a>.<\/p>\nBut when it comes to doubling 20k, it's important to have realistic expectations.<\/p>\n
Many of these ideas can take months or years to work. But this is the nature of investing and passive income<\/a>, so it's important to have patience and to trust the process.<\/p>\n1. Invest In Real Estate<\/strong><\/h3>\nOne of the best ways to double 20,000 dollars is to invest in income-generating real estate<\/strong>.<\/p>\nHistorically, real estate has been a great tool for wealth building since it typically appreciates and also lets you earn recurring rental income.<\/p>\n
And the great news is, you don't need to invest hundreds of thousands of dollars to get started with real estate.<\/p>\n
For example, real estate investing companies like Arrived<\/a> let you invest in shares of income-generating rental properties starting with only $100!<\/strong><\/p>\n![\"Arrived](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Arrived-real-estate-investing.jpg\")
<\/p>\n
Arrived lets you browse different rental properties that you want to invest in. You can then buy shares of your favorite properties and begin earning passive income through both rental income and property appreciation.<\/p>\n
Overall, Arrived helps people diversify their portfolios with real estate. And I like that you only need $100 to get started.<\/p>\n
You also have plenty of other real estate investment options like<\/strong>:<\/p>\n\n- Fundrise<\/a> <\/strong>This popular platform lets you start investing in real estate with only $10. Note, this is a Fundrise endorsement and we receive compensation if you sign up with the provided link.<\/li>\n
- RealtyMogul<\/strong><\/a>: Invest in exclusive commercial real estate deals with RealtyMogul.<\/li>\n
- Streitwise<\/strong><\/a>: A popular dividend income investment option that also invests in real estate.<\/li>\n<\/ul>\n
The bottom line is that real estate investing is one popular way to double $20k. And you can keep things completely passive if you want.<\/p>\n
Start investing with Arrived today!<\/a><\/strong><\/p>\n2. Start An Online Business<\/strong><\/h3>\nIf you're feeling entrepreneurial, you can always try starting an online business to turn 20k into 40k.<\/p>\n
Online businesses are great because they traditionally have lower start-up costs versus brick and mortar businesses. In fact, some ideas like making money with a blog<\/a> or making money on YouTube<\/a> don't even need more than $200 to $300 to get started.<\/p>\nAnd the income ceiling for these types of businesses is truly massive<\/strong>.<\/p>\nFor example, WebMonkey makes $400 a day<\/a> or more just from Mediavine ads<\/a>. Affiliate income and other sources bring total daily revenue to around $600.<\/p>\n![\"Mediavine-Income-Per-Day\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Mediavine-Income-Per-Day.jpg\")
<\/strong>But these are just two examples of online businesses you can start.<\/p>\nSome other online businesses you can start with 20k or less include<\/strong>:<\/p>\n\n- An ecommerce store with platforms like Shopify<\/a><\/li>\n
- Selling stuff on Etsy<\/li>\n
- Starting a print on demand business<\/a><\/li>\n
- Starting an online coaching or services businesses<\/li>\n<\/ul>\n
For ecommerce options like Shopify or Etsy, your $20,000 investment could help fund initial inventory, store setup, and marketing.<\/p>\n
But again, there's a chance you don't even need to spend this much money, and it's nice to have money in the bank to help fund growth down the line.<\/p>\n
3. Invest In Stocks & ETFs<\/strong><\/h3>\nAnother simple way to double $20,000 dollars is to invest in stocks and exchange-traded funds (ETFs)<\/strong>.<\/p>\nThis sort of basic investing might not sound exciting, but it's a proven way to build wealth thanks to the power of compound interest and time.<\/p>\n
For example, here's how long it would take to double $20,000 if you invested in a variety of stocks and funds that return 7% annually on average.<\/p>\n
![\"Double](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Double-20k-investing.png\")
<\/p>\n
As you can see, at a 7% annual rate of return, it takes about 10 years to turn $20,000 into $40,000<\/strong>.<\/p>\nBut this assumes you don't make any additional contributions to your investment portfolio. This isn't exactly realistic, and you could always invest in dividend-paying stocks and reinvest dividends into more shares.<\/p>\n
The bottom line is investing is a proven way to make money on autopilot<\/a>. And for doubling $20,000, it's one of the most realistic methods, provided you have patience.<\/p>\nYou can start investing through your bank. There are also plenty of commission-free online brokers that are perfect for getting started.<\/p>\n
For example, M1<\/a>\u00a0<\/strong>is a commission-free broker, so you can invest in stocks and ETFs for free.<\/p>\n![\"M1-Finance-Investing\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/M1-Finance-Investing.jpg\")
<\/strong>It's completely free to open an account, and there's just a $100 account minimum funding requirement, which is perfect for beginners.<\/p>\nLearn more about investing with M1!<\/strong><\/a><\/p>\nPro Tip \ud83d\udcb5\u00a0<\/strong>Get 50% off The Motley Fool Stock Advisor program<\/a> and join over 500,000 investors receiving professional stock recommendations and tips right to their inbox!<\/p>\n4. Invest In Small Businesses<\/strong><\/h3>\nTraditionally, investing in small businesses meant you had to be a venture capitalist or have some serious capital to help fund startups.<\/p>\n
But thanks to companies like\u00a0Mainvest<\/a><\/strong>, you can invest in small businesses across America with only $100.<\/p>\n![\"Mainvest\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Mainvest.jpg\")
<\/strong>Mainvest lets investors help fund growing small businesses that need additional capital to continue growing.<\/p>\nSome of the most popular businesses you find on the platform include<\/strong>:<\/p>\n\n- Bakeries<\/li>\n
- Breweries<\/li>\n
- Food trucks<\/li>\n
- Restaurants<\/li>\n<\/ul>\n
Mainvest typically targets a 1.5x return on investment, but some opportunities can pay more, letting you double $20,000 if businesses grow as expected.<\/p>\n
![\"Mainvest](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Mainvest-Opportunity.jpg\")
<\/p>\n
What's nice about Mainvest is that it only accepts around 5% of applicants to its program. This means the investment opportunities on the platform are promising and have been checked over by Mainvest's team.<\/p>\n
There's still risk in this type of investing strategy, and you should always do your own due diligence or ask for professional finance advice if you have questions.<\/p>\n
But for a way to potentially turn $20,000 dollars into $40,000 dollars, you can explore investing with Mainvest<\/a>.<\/p>\n5. Start A Service-Based Business<\/strong><\/h3>\nOne more idea for how to turn $20k into $40k is to use the money to start a service-based business.<\/p>\n
Equipment is often the most expensive aspect of starting a service-based business. Licensing and legal costs can also be upfront expenses.<\/p>\n
But a $20,000 starting investment might be enough to start a small side business. If you get enough clients, you can easily double your $20,000 investment and even find a new career.<\/p>\n
Examples of popular service-based businesses you can start include<\/strong>:<\/p>\n\n- Cleaning<\/li>\n
- Cutting hair<\/li>\n
- Landscaping<\/li>\n
- Painting<\/li>\n
- Pet grooming<\/li>\n
- Pet sitting<\/li>\n
- Professional chef and catering<\/li>\n
- Window washing<\/li>\n<\/ul>\n
It might take a while to find clients, but you can use various gig apps<\/a> or websites like TaskRabbit<\/a> to find your first leads.<\/p>\n![\"TaskRabbit\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/TaskRabbit.png\")
<\/strong>TaskRabbit<\/a> lets you list your professional services so people in your area can hire you. It's free to list, and you get to set your own hourly rates and availability.<\/p>\nEven posting gigs on local classifieds like Craigslist can help you drum up business, so don't be afraid to get creative.<\/p>\n
6. Try Crypto Investing<\/strong><\/h3>\nAnother potential way to double $20,000 is to invest in cryptocurrency.<\/p>\n
Crypto investing has been all the rage for the last few years. But what's exciting about crypto is just how many new passive income opportunities there are in the space.<\/p>\n
For example, you can buy popular cryptos with leading exchanges like\u00a0Coinbase<\/strong><\/a> and then stake those coins. In exchange, it's possible to earn up to 5% APY through staking.<\/p>\n![\"Coinbase\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Coinbase.jpg\")
<\/strong>But this is just scratching the surface.<\/p>\n
But when it comes to doubling 20k, it's important to have realistic expectations.<\/p>\n
Many of these ideas can take months or years to work. But this is the nature of investing and passive income<\/a>, so it's important to have patience and to trust the process.<\/p>\n One of the best ways to double 20,000 dollars is to invest in income-generating real estate<\/strong>.<\/p>\n Historically, real estate has been a great tool for wealth building since it typically appreciates and also lets you earn recurring rental income.<\/p>\n And the great news is, you don't need to invest hundreds of thousands of dollars to get started with real estate.<\/p>\n For example, real estate investing companies like Arrived<\/a> let you invest in shares of income-generating rental properties starting with only $100!<\/strong><\/p>\n Arrived lets you browse different rental properties that you want to invest in. You can then buy shares of your favorite properties and begin earning passive income through both rental income and property appreciation.<\/p>\n Overall, Arrived helps people diversify their portfolios with real estate. And I like that you only need $100 to get started.<\/p>\n You also have plenty of other real estate investment options like<\/strong>:<\/p>\n The bottom line is that real estate investing is one popular way to double $20k. And you can keep things completely passive if you want.<\/p>\n Start investing with Arrived today!<\/a><\/strong><\/p>\n If you're feeling entrepreneurial, you can always try starting an online business to turn 20k into 40k.<\/p>\n Online businesses are great because they traditionally have lower start-up costs versus brick and mortar businesses. In fact, some ideas like making money with a blog<\/a> or making money on YouTube<\/a> don't even need more than $200 to $300 to get started.<\/p>\n And the income ceiling for these types of businesses is truly massive<\/strong>.<\/p>\n For example, WebMonkey makes $400 a day<\/a> or more just from Mediavine ads<\/a>. Affiliate income and other sources bring total daily revenue to around $600.<\/p>\n Some other online businesses you can start with 20k or less include<\/strong>:<\/p>\n For ecommerce options like Shopify or Etsy, your $20,000 investment could help fund initial inventory, store setup, and marketing.<\/p>\n But again, there's a chance you don't even need to spend this much money, and it's nice to have money in the bank to help fund growth down the line.<\/p>\n Another simple way to double $20,000 dollars is to invest in stocks and exchange-traded funds (ETFs)<\/strong>.<\/p>\n This sort of basic investing might not sound exciting, but it's a proven way to build wealth thanks to the power of compound interest and time.<\/p>\n For example, here's how long it would take to double $20,000 if you invested in a variety of stocks and funds that return 7% annually on average.<\/p>\n As you can see, at a 7% annual rate of return, it takes about 10 years to turn $20,000 into $40,000<\/strong>.<\/p>\n But this assumes you don't make any additional contributions to your investment portfolio. This isn't exactly realistic, and you could always invest in dividend-paying stocks and reinvest dividends into more shares.<\/p>\n The bottom line is investing is a proven way to make money on autopilot<\/a>. And for doubling $20,000, it's one of the most realistic methods, provided you have patience.<\/p>\n You can start investing through your bank. There are also plenty of commission-free online brokers that are perfect for getting started.<\/p>\n For example, M1<\/a>\u00a0<\/strong>is a commission-free broker, so you can invest in stocks and ETFs for free.<\/p>\n Learn more about investing with M1!<\/strong><\/a><\/p>\n Pro Tip \ud83d\udcb5\u00a0<\/strong>Get 50% off The Motley Fool Stock Advisor program<\/a> and join over 500,000 investors receiving professional stock recommendations and tips right to their inbox!<\/p>\n Traditionally, investing in small businesses meant you had to be a venture capitalist or have some serious capital to help fund startups.<\/p>\n But thanks to companies like\u00a0Mainvest<\/a><\/strong>, you can invest in small businesses across America with only $100.<\/p>\n Some of the most popular businesses you find on the platform include<\/strong>:<\/p>\n Mainvest typically targets a 1.5x return on investment, but some opportunities can pay more, letting you double $20,000 if businesses grow as expected.<\/p>\n What's nice about Mainvest is that it only accepts around 5% of applicants to its program. This means the investment opportunities on the platform are promising and have been checked over by Mainvest's team.<\/p>\n There's still risk in this type of investing strategy, and you should always do your own due diligence or ask for professional finance advice if you have questions.<\/p>\n But for a way to potentially turn $20,000 dollars into $40,000 dollars, you can explore investing with Mainvest<\/a>.<\/p>\n One more idea for how to turn $20k into $40k is to use the money to start a service-based business.<\/p>\n Equipment is often the most expensive aspect of starting a service-based business. Licensing and legal costs can also be upfront expenses.<\/p>\n But a $20,000 starting investment might be enough to start a small side business. If you get enough clients, you can easily double your $20,000 investment and even find a new career.<\/p>\n Examples of popular service-based businesses you can start include<\/strong>:<\/p>\n It might take a while to find clients, but you can use various gig apps<\/a> or websites like TaskRabbit<\/a> to find your first leads.<\/p>\n Even posting gigs on local classifieds like Craigslist can help you drum up business, so don't be afraid to get creative.<\/p>\n Another potential way to double $20,000 is to invest in cryptocurrency.<\/p>\n Crypto investing has been all the rage for the last few years. But what's exciting about crypto is just how many new passive income opportunities there are in the space.<\/p>\n For example, you can buy popular cryptos with leading exchanges like\u00a0Coinbase<\/strong><\/a> and then stake those coins. In exchange, it's possible to earn up to 5% APY through staking.<\/p>\n1. Invest In Real Estate<\/strong><\/h3>\n
<\/p>\n\n
2. Start An Online Business<\/strong><\/h3>\n
<\/strong>But these are just two examples of online businesses you can start.<\/p>\n\n
3. Invest In Stocks & ETFs<\/strong><\/h3>\n
<\/p>\n<\/strong>It's completely free to open an account, and there's just a $100 account minimum funding requirement, which is perfect for beginners.<\/p>\n4. Invest In Small Businesses<\/strong><\/h3>\n
<\/strong>Mainvest lets investors help fund growing small businesses that need additional capital to continue growing.<\/p>\n\n
<\/p>\n5. Start A Service-Based Business<\/strong><\/h3>\n
\n
<\/strong>TaskRabbit<\/a> lets you list your professional services so people in your area can hire you. It's free to list, and you get to set your own hourly rates and availability.<\/p>\n6. Try Crypto Investing<\/strong><\/h3>\n
<\/strong>But this is just scratching the surface.<\/p>\n
![\"Nexo-earn-interest\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/Nexo-earn-interest.png\")