Jaspreet Singh Shares 5 Ways To Grow $10k to $100k in Three Years
Theres more than one way you can quickly grow your money besides working. According to money expert Jaspreet Singhs YouTube video, you can grow $10,000 to $100,000 using five different methods.
These five strategies will help you grow $10,000 to $100,000 in three years.
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You can save your way to $100,000.
Singh cites statistics from the Federal Reserve, which state the average American is saving just under 5% of their income. Those who are able to save 10% of their income are saving double compared to the average American and are able to put $7,100 into their savings each year.
One advantage Americans have today they did not have a few years ago are high-interest savings accounts. If youre saving $10,000 a year and have an additional $7,100 you can put into savings, Singh said if you can put this money into a high-yield savings account with a 4% interest rate, it will take you 10 years to grow the money into $100,000.