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Where to Invest $1000 For a Quick Return
Submitted 2012-04-26 20:05:57
Creating wealth comes from insight and vision. The goal of investing is obviously to get the highest returns possible while maintaining an acceptable risk profile for each investment made. But investing with insight and vision generates the types of returns that creates real wealth.
$1000 dollars may not sound like a lot of money for investing and you may have a difficult time imagining how that humble thousand dollars can transform into something substantial. The goal of anyone interested in creating wealth is the first level or $1 million dollars.
At the $1 million dollar level, you are not really rich but you are definitely independently retired. A million dollars is the perfect vehicle for a passive income. The reason is that banks offer typically single digit returns but are the safest investment of all. So depositing this kind of money will deliver a usable income. Around $1400 a week, which would give you a pretty good lifestyle and not bad for doing nothing to get that money, you don't have to work.
However, I say you are not really rich yet, because you can't really apply that million dollars to lifestyle. You can't spend it because then you lose your income, so that million is just the first level. It is however enough for most people despite the fact that you are living off the interest and that million will therefore never grow because you are spending what it earns for you.
To invest $1000 and turn it into $1 million all you have to do is double your $1000 dollars 10 times. If you can manage to double that money just 10 times, you will have over $1 million dollars in your bank balance.
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