3 Proven Ways to Double Your Money
Whether you're saving for retirement or simply trying to build wealth for the future, being strategic with your money can help maximize your earnings. It's easier than you might think to double your money, and these three strategies can help you increase your savings with little-to-no effort on your part.
If you have access to a 401(k) and your employer offers matching contributions, this is essentially free money. By contributing enough to earn the full match, you can instantly double your retirement savings.
Over time, the employer match can add up substantially. Say, for example, you're earning $50,000 per year, and your employer will match your 401(k) contributions up to 3% of your salary -- or $1,500 per year. Let's also say you're earning an 8% average annual return on your investments.
Source Fool.com
